MPI Sells Five Former Dominick's Gas Stations and Outlots

Millennium Properties R/E, a premier boutique brokerage and property management firm in Chicago, recently brokered the sale of five former Dominick’s Finer Foods outlots throughout the suburbs of Chicago for a total of $3.4 million. The five outlots were sold as a portfolio to GMX Real Estate Group, a regional retail developer and real estate service company.

Three of these properties – located in Fox Lake, Oswego and Shorewood – were developed as gas stations with small convenience stores. The stations have been decommissioned and the sites are ready for redevelopment. Two outlots, in Aurora and Frankfort, are both zoned for retail or future gas station development. All five outlots are in strong locations near major retail corners close to both residential and commercial areas with strong demographic trends. Several of these outlots are adjacent to grocery stores that have been acquired by Mariano’s. 

“We are pleased to assist Safeway and Dominick’s in the sale of these five outlots near their former grocery stores,” said Susan B. Silver, executive vice president of Millennium Properties. “We received multiple offers on all five sites. These outlots are in extremely strong retail locations with growing customer bases and will be redeveloped as free standing retail properties.”

Millennium is currently working with Safeway on the sale and lease assignment of several former Dominick’s properties throughout Chicagoland.