Inland Private Capital brought Chicagoland Fresh Market Venture DST to full cycle in December 2017, when the last of its two Mariano's Fresh Market stores, in Palatine, Illinois, sold and closed the program.
The trust filed its Form D on April 9, 2013, a 506(b) offering with a $21.66 million equity ceiling and a $25,000 minimum. Those dates set the hold at about four years and eight months, from the April 2013 offering to the December 2017 completion.
The trust held two Mariano's Fresh Market stores in suburban Chicago, and each was sold separately. The Vernon Hills store sold in August 2016 for $36.4 million, as reported by the sponsor; on that sale Inland reported a total return of 148.48%, as reported by the sponsor, and an IRR of 14.05%, as reported by the sponsor. The Palatine store then sold in December 2017 for $29 million, as reported by the sponsor, completing the program. No return figure accompanies the Palatine sale.
The outcome adds to Inland Private Capital's tracked full-cycle record. By Top1031's count it is the sponsor's 47th.