Exclusive: Ares, Seefried Make $48M Chicago Deal
A logistics company fully occupies the facility.
Ares Management has acquired O’Hare Logistics Center 16, a 190,606-square-foot industrial facility in Mount Prospect, Ill., according to Yardi Matrix information. Seefried Industrial Properties sold the asset for $48.3 million, or almost $254 per square foot.
The deal comes on the heels of Ares Management’s sale of Tradepoint 45 East, a 610,622-square-foot warehouse in Wilmer, Texas, after owning it for about a year. Cavender’s acquired that property.
Seefried acquired the 13-acre site of the property in July 2024 and demolished a vacant office building, then completed the existing warehouse last year. At the time of the sale, it was fully occupied by Accelerated Global Solutions, which committed to the space last August.
Located at 1305 E. Algonquin Road, along the I-90 Golden Corridor, the distribution center is about 9 miles from Chicago O’Hare International Airport and 21 miles from downtown Chicago. Illinois International Port District is 36 miles southeast. The warehouse has 36-foot maximum clear heights, two drive-in doors and 54 dock-high loading doors.
Ares’ major industrial deals of 2026
At the beginning of the year, Ares wrapped up a previously announced deal to take Plymouth Industrial REIT private, a move valued at $2.1 billion. The company, together with Makora Management, acquired the trust in an all-cash transaction.
After that, the company purchased a 7.3 million-square-foot industrial portfolio in a $650.2 million deal. The collection comprises 36 properties across 13 states and 18 markets. In metro Chicago, the firm extended its presence with the acquisition of 250 W. Haven Ave., a 411,840-square-foot facility.
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