{"id":1004200865,"date":"2017-12-15T10:58:13","date_gmt":"2017-12-15T18:58:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004200865"},"modified":"2022-12-08T22:51:40","modified_gmt":"2022-12-09T06:51:40","slug":"avison-young-arranges-190-ksf-chicago-industrial-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/avison-young-arranges-190-ksf-chicago-industrial-sale\/","title":{"rendered":"Avison Young Arranges 190 KSF Chicago Industrial Sale"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004177364\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/501-Alonquin-Road-Mount-Prospect-Ill..jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004177364\" data-attachment-id=\"1004177364\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/avison-young-to-market-chicago-industrial-portfolio\/501-alonquin-road-mount-prospect-ill\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/501-Alonquin-Road-Mount-Prospect-Ill..jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"501 Alonquin Road, Mount Prospect, Ill.\" data-image-description=\"&lt;p&gt;501 Alonquin Road, Mount Prospect, Ill.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;501 Alonquin Road, Mount Prospect, Ill.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/501-Alonquin-Road-Mount-Prospect-Ill..jpg?w=800\" class=\"wp-image-1004177364 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/501-Alonquin-Road-Mount-Prospect-Ill..jpg\" alt=\"501 Alonquin Road, Mount Prospect, Ill.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/501-Alonquin-Road-Mount-Prospect-Ill..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/501-Alonquin-Road-Mount-Prospect-Ill..jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/501-Alonquin-Road-Mount-Prospect-Ill..jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004177364\" class=\"wp-caption-text\">501 Alonquin Road, Mount Prospect, Ill.<\/p><\/div>\n<p>Avison Young has facilitated the sale of a 190,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/avison-young-to-market-chicago-industrial-portfolio\/\">industrial portfolio <\/a>within the O\u2019Hare submarket, which it marketed in the spring. The previous owner, investment firm Clear Height Properties, sold the four facilities to a private institutional equity provider based in Los Angeles.<\/p>\n<p>The buildings are located on a contiguous 10.3-acre site in Mount Prospect, Ill.:<\/p>\n<ul>\n<li>501 Algonquin Road (62,344 square feet)<\/li>\n<li>401-411 W. Algonquin Road (15,278 square feet)<\/li>\n<li>1840-1864 and 1870-1894 S. Elmhurst Road (56,182 square feet in each building)<\/li>\n<\/ul>\n<h2>Strong performance<\/h2>\n<p>\u00a0\u201c<em>The O\u2019Hare market continues to draw investors looking to tap into the Chicago market\u2019s strong fundamentals and connection to the nation\u2019s growing distribution network,<\/em>\u201d said Principal Erik Foster in prepared remarks. \u201c<em>A well-leased portfolio in this coveted market creates tremendous opportunity for investment growth.<\/em>\u201d<\/p>\n<p>The properties are 97 percent leased to a mix of tenants including EPP Corp., Nikuni America and Lapmaster International. They are located in close proximity to interstates 290, 294, 90 and 355, the Union Pacific Rail Line and the O\u2019Hare International Airport. Downtown Chicago is\u00a0less than 30 miles away.<\/p>\n<p>Avison Young Principal Mike Wilson worked together with Foster to market and arrange the deal on behalf of the owner.\u00a0<\/p>\n<p><em>Image courtesy of Avison Young<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The transaction involved four buildings located in the Chicago O\u2019Hare submarket, which used to be part of investment firm Clear Height Properties\u2019 portfolio. <\/p>\n","protected":false},"author":1064,"featured_media":1004177364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21748,13,21742],"tags":[33022,38624],"class_list":["post-1004200865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-industrial","category-midwest","category-latest","tag-avison-young","tag-clear-height-properties"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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