Inland had a humble start. In the late 1960s, four Chicago Public School teachers Dan Goodwin, Bob Baum, Joe Cosenza, and Bob Parks decided to invest in real estate as a sideline to earn extra money. They also gathered investments from family members, friends and fellow teachers so they could begin to build and buy assets all around the Chicago area during their off-school hours.
Privately held, the first Inland entity was incorporated in 1968 and The Inland Real Estate Group of Companies, Inc. is now one of the largest commercial real estate and financial groups in the United States. Inland has held property in 49 states, owned and managed hundreds of millions of square feet of commercial property including over 73,000 apartment units. In total, Inland has purchased more than $45 billion in commercial real estate.
Today, Inland specializes in creating, developing and supporting Inland member companies that provide real estate- related investment funds, including limited partnerships, institutional funds, general partnerships, joint ventures and REITs, as well as real estate services for both third parties and Inland member companies. Throughout Inland’s 50-year history, it has sponsored over 720 investment programs serving more than 490,000 investors.
The Inland Timeline
Four Chicago schoolteachers join together to create a real estate company
Inland Real Estate is incorporated and forms its first limited partnership.
Inland constructs its first single-family investment home.
Inland constructs its first multi-family investment property and enters into its first land deal.
Inland creates its famous corporate logo.
Inland constructs its first shopping center.
Inland surpasses 10,000 apartments under management.
Inland reaches $100 million in raised capital.
Inland surpasses 20,000 apartments under management.
Inland forms Inland Real Estate Investment Corporation.
Inland surpasses 40,000 apartments under management in the metropolitan Chicago area.
Inland begins syndicating investment products nationwide with its first public limited partnership.
Inland becomes Walmart’s biggest landlord nationwide.
Inland owns and manages commercial properties in 40 states.
Inland forms its first REIT (of eight) called Inland Real Estate Corporation.
Inland begins its online presence.
Inland forms Inland Private Capital Corporation for investors wishing to complete a Section 1031 Exchange.
Inland’s first REIT, Inland Real Estate Corporation is listed on the New York Stock Exchange.
Better Business Bureau gives Inland its first Torch Award for Marketplace Ethics.
Inland is inducted into the Chicago Association of Realtors’ Corporate Hall of Fame.
Inland launches its first mortgage REIT.
Inland real estate purchases reach a cummulative total of $45 billion with more than 720 investment programs.
Inland celebrates its 50th Anniversary!