Altogether, the properties total more than 423,000 sf. GeorgeGood, EVP with CB Richard Ellis, represented both parties. "I thinkthe five siblings of the family felt it was time to get the housein order," Good tells GlobeSt.com. The junior DiMatteo expanded theDominick's grocery chain until it was sold to Los Angeles-basedYucaipa Cos. in 1995. Safeway purchased the firm in 1999, and thecompany has 81 stores. Good says the family had stayed on aslandlord for some of these recently-sold properties because ofsentimental value, or because they had been the developer on thesite as well.

The properties include:

• A 41,090-sf Dominick's store on Green Bay Road in Evanston,built in 1990. The base lease of $11.68 per sf, below the market,runs through September 2010 with four five-year renewal options.Sources say the property sold for $6.9 million, sources say.
• A 47,723-sf Dominick's store on Willow Road in Northfield,built in 1995. The base lease of $15.78 per sf, also below themarket average, runs through October 2015 and also has fourfive-year renewal options. The property sold for $8.4 million.
• A 28,220-sf Dominick's store on North Avenue in River Forest,built in 1959. The base lease rate of $5.85 per sf runs throughApril 2012, and is dramatically below market, says Good, thoughthere's not much competition in the area. This property sold for$6.9 million. This store was the oldest operating Dominick's.
• Town Square, a 95,997-sf center anchored by a 65,946-sfDominick's. There is one 2,100-sf space that is available in this11-year-old center. The tenants have nine years left on theirlease, again, with four five-year renewal options. This propertysold for $16 million.
• Walgreen's Plaza, an 18,450-sf strip center with the namesakestore and three shops on North Broadway and Glenlake Avenue inChicago. This property's lease rate of $7.25 per sf is only afraction of the market value, Good says, but the lease ends inOctober 2015. After that, Good tells GlobeSt.com that the best ideawould be to demolish the 42-year-old plaza and build anew, withpossibly a new Walgreens. This property sold for $2.5 million.
• Gateway Centre, a 186,334-sf center anchored by Dominick's,Bally's and Marshalls at Clark and Howard in Chicago, built in 1999and renovated in 2004. This site, adjacent to the elevated trainstation, has 30,000-sf of vacant space. This property sold for$32.9 million.
• A LaSalle Bank site on Clark Street, across the street fromGateway Centre. This site sold for 1.3 million.

Good says though many of the tenants have long leases, thelocations of the properties were what made this a good deal forRreef. "They saw the intrinsic real estate value, these stores aretotally infill in irreplaceable areas," he says. "Even though someare encumbered by leases, there's still leasing upsides with theWalgreens property and the Gateway Centre."