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CHICAGO-Inland Western Retail Real Estate Trust, Inc. has paid $24.1 million for the 111,473-sf Ashland & Roosevelt Center shopping center southwest of the Loop. Anchored by Jewel-Osco, the three-year-old center was 100% occupied when sold by its developer, the Daly Group.

In addition to being anchored by a grocery store, the center at thesouthwest corner of Roosevelt Road and Ashland Avenue includes a freestanding LaSalle Bank along with national retailers among the 17 other tenants. Inland Western Retail Real Estate Trust inherits a ground lease with the state’s Medical District Commission, which has another 56 years left. The REIT also assumes mortgage of nearly $1.9 million, which has nearly 17 years until it matures and carries a 7.48% interest rate.

Mid-America Real Estate Corp.’s investment sales group represented Daly Group, LLC in its sale of the property.

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