Link Logistics Lands 300 KSF Chicago-Area Lease Renewal

Link Logistics has signed a lease renewal with Axis Warehouse & Logistics at 500 Country Club Drive in Bensenville, Ill.

The full-building transaction spans more than 300,000 square feet, making it the largest lease renewal in the O’Hare industrial market in the first half of 2025.

Jeff Galante, SIOR, principal at Lee & Associates’ Illinois office, represented the tenant in the deal. Owner Link Logistics was represented by JLL’s Dominic Carbonari.

Link Logistics purchased the industrial asset in a portfolio deal in 2021, according to CommercialEdge data. CenterPoint Properties sold the asset for $22.1 million, and Wells Fargo provided a loan that is set to mature in 2029, the same source indicates.

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The climate-controlled property includes a max truck court of 110 feet with loading doors, a dock leveler, dock bumpers and rail doors. The max clear ceiling height is 22 feet, with 40-foot by 40-foot column spacing.

Axis Logistics has been the sole tenant at the 11.9-acre site since 2023. The warehouse has freeway access within 3.2 miles, and is within 7 miles of the Chicago O’Hare International Airport.

Chicago industrial sales activity

Demand for small and mid-sized industrial space continued to rise in the Chicago market in the first quarter of 2025, according to a report from Colliers.

Leases under 80,000 square feet saw a 5.7 percent increase across 94 deals. Compared to the previous quarter, build-to-suit projects have decreased to 69 percent of the development pipeline, from 83 percent in the fourth quarter of 2024.

Earlier this month, LBA Logistics purchased the Niles Industrial Center in the Chicago market for $55.5 million. Twenty years prior, the 400,000-square-foot property traded for $21.4 million.

Also this month, Northpoint Development bought an industrial portfolio for $270 million from High Street Logistics. The previous owners purchased the 2.8 million-square-foot portfolio for $230 million in 2021. The sale includes 11 buildings in Elgin, Ill.