Joe Cosenza, ‘legendary deal maker’ of Inland Real Estate, dies
G. Joseph Cosenza started as an educator but after shifting his career path he had a hand in purchasing more than $55 billion in commercial properties for the Inland Real Estate Group.
He was the co-founder, director and vice chairman of Oak Brook-based Inland Real Estate Group of Companies, Inc., and president of Inland Real Estate Acquisitions, LLC.
Cosenza, 81, of Downers Grove, died Dec. 25.
“Joe was a legendary deal maker in the commercial real estate industry, a trusted and valued partner, and a dear friend,” said Robert H. Baum, Inland chair, co-founder and general counsel, in a statement.
“We will miss his enduring loyalty, high energy and passion, particularly when he was on the acquisition front fighting the good fight to acquire real estate on terms most favorable to Inland and our investors,” Baum said.
A Chicago native, Cosenza earned a bachelor’s degree at Northeastern Illinois University and a master’s degree at Northern Illinois University. He taught in LaGrange in 1967-68, and was an assistant principal and teacher in Wheeling from 1968-72.
While at Northeastern he became friends with the late Daniel Goodwin, and together with fellow schoolteachers Baum and Robert Parks, they formed Inland in 1968. Goodwin, who lived in Oak Brook, died in January 2024.
Their company became one of the nation’s largest commercial real estate and finance groups. A licensed real estate broker and head of acquisitions for Inland, Cosenza oversaw and consulted or negotiated the purchase of more than $55 billion of commercial real estate.
“What they built, and the resiliency of the Inland employees, was a testament to what they built here. Inland is one of those great American success stories,” Tony Chereso, Inland CEO, president, and board member, told the Daily Herald.
Among his awards and recognitions were induction into the Chicago Association of REALTORS Hall of Fame, and lifetime achievement awards from the Illinois Real Estate Journals and CRE Connect industry publications.
Cosenza also was active in banking and finance. He served as past board chair of the American National Bank of DuPage, and part owner of that bank as well as Burbank State Bank. He also served on the board of Continental Bank of Oakbrook Terrace.
Cosenza was a past chair and a director of Inland Bank & Trust, and a director on the board of Inland Bancorp, Inc.
“Joe lived life without any limits,” Chereso said. “Not only did he approach his personal life that way, but he approached his professional life that way. He was a larger-than-life individual. He embraced life, and it contributed here to Inland’s success.”
Chereso said Cosenza transformed the alternative real estate marketplace.
“It’s funny, we use words like ‘remarkable leader’ or ‘pioneer’ when they pass, but those terms were used throughout his career and were recognized in all his accomplishments,” Chereso said.
Visitation will be held from 3 to 8 p.m. Thursday, Jan. 2 at Adams-Winterfield & Sullivan Funeral Home, 4343 Main St., Downers Grove.
A funeral service will be at 10 a.m. Friday, Jan. 3 at St. Mary’s of Gostyn Catholic Church, 445 Prairie Ave., Downers Grove.