WPT Capital Advisors’ acquisition of an Elk Grove Village warehouse topped the list of March’s priciest industrial sales.
Nearly $24 million was spent on the five biggest industrial investment sales of the month, with WPT’s deal making up about 30 percent of the total amount spent.
Four of the biggest deals were for properties in the suburbs. The only deal in the city was for a light industrial property in Fulton Market that will make way for a 25-unit condo building.
All transaction information comes from Cook County Recorder of Deeds records.
1. 1500 Chase Avenue, Elk Grove Village | $7.5 million
1500 Chase Avenue, Elk Grove Village
Minneapolis-based WPT Capital Advisors paid $7.5 million for a warehouse in the red-hot O’Hare industrial submarket. The building, completed in 2008, has 77,500 square feet of rentable space. Selling the property was CBRE Global Investors, property records show.
2. 16750 Vincennes Avenue, South Holland | $4.3 million
16750 Vincennes Avenue, South Holland
This south suburban industrial building was picked up by New Jersey-based Rosdev Capital Funding for $4.3 million. The building, which was completed in 1970, has 203,000 square feet of rentable space, including over 7,000 square feet of office space, according to LoopNet. It was sold by Boston-based Stag Industrial.
3. 902 Feehanville Drive, Mount Prospect | $4.3 million
902 Feehanville Drive
A nearly 50,000-square-foot industrial building in Mount Prospect was bought by an entity controlled by Marvin Peplow for $4.3 million. The building, erected in 1983, is leased by Avery Dennison Corporation through 2023, according to LoopNet. Selling the property was Woodridge-based RE Development Solutions.
4. 9301 Skokie Boulevard, Skokie | $4.2 million
9301 Skokie Boulevard, Skokie (Credit: Google Maps)
This former gas station site was sold to investors Arnold Malk and Brian Edmonson for $4.2 million, records show. Selling the property was Chicago-based GW Properties. The gas station has been demolished, according to Google Maps.
5. 122 South Green Street | $3.8 million
122 South Green Street
ZSD Principal Zev Salomon bought this Fulton Market property for $3.8 million with plans to turn it into a condo development. Salomon’s project calls for a 25-unit building with condos costing between $1.2 and $3 million. Walton Street Capital sold the property.