Avison Young to Market Chicago Industrial Portfolio

By Roxana Baiceanu

501 Alonquin Road, Mount Prospect, Ill.

Clear Height Prospect, the owner of an industrial listing in Mount Prospect, Ill., tapped Avison Young as the exclusive marketing agency for the four-building portfolio. Erik Foster and Mike Wilson, both principals with Avison Young and members of the firm’s National Industrial Capital Markets Group, will lead the marketing efforts on behalf of the seller.

The assets sit on a contiguous 10.3-acre parcel located just north of the Chicago O’Hare International Airport and are 97 percent leased.

The listing includes:

• a 62,344-square-foot warehouse at 501 Alonquin Road acquired by Clear Height Prospect last year. The building has been leased by Lapmaster Wolters, a provider of precision surfacing technology, since 2007;
• an adjoining 15,278-square-foot asset at 401-411 W. Alonquin Road;
• two facilities at 1840-1864 and 1870-1894 S. Elmhurst Road, both each 56,182 square feet, which have been part of Clear Height’s portfolio since 2015. The complex has 26,985 square feet of space available for lease.

1840-1894 Elmhurst Road, Mount Prospect, Ill.

The facilities offer access to downtown Chicago, which is 22 miles away from Mount Prospect, the Union Pacific Rail Line and Interstates 290, 294, 90 and 355.

“This portfolio offers investors a unique opportunity to secure a well leased portfolio in one of the country’s most coveted industrial markets,” said Foster, in prepared remarks. “The O’Hare market continues to outperform many markets across the country and creates a tremendous opportunity for investment growth.” 

In April, Avison Young added another Chicago asset to its portfolio–140,000 square feet of speculative office space at the upcoming Twelve01West in Fulton Market.

Images courtesy of Clear Heights Prospect