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LA GRANGE PARK, ILL. — Marcus & Millichap has arranged the $9 million sale of a retail property net leased to Jewel-Osco in La Grange Park, about 13 miles west of Chicago. The 46,637-square-foot building is located at 507 E. Woodlawn Ave. Jewel-Osco has operated at the property since it was built in 1964 and recently signed a 20-year lease extension through May 2044. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a life insurance company. The asset sold to a 1031 exchange investor and garnered one of the lowest cap rates for a full-service grocer in the Midwest in recent years, according to Mendoza.