CHICAGO—The recent shuttering of the once-popular Dominick’s Finer Foods stores could have been a worrisome development for the metro area’s retail market. But since then demand for the vacated spaces has remained strong. Millennium Properties R/E, for example, had no shortage of prospective buyers when it recently brokered the sale of five former Dominick’s outlots located throughout the suburbs. The spaces were sold as a portfolio to GMX Real Estate Group, a regional retail developer based in suburban Vernon Hills, for a total of $3.4 million.

Three of these properties – located in Fox Lake, Oswego and Shorewood – were developed as gas stations with small convenience stores. The stations were decommissioned and the sites are ready for redevelopment. Two other outlots, in Aurora and Frankfort, are both zoned for retail or future gas station development.

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