Here are the top five industrial investment sales of May

Topping the list was Angelo Gordon’s $26 million acquisition of a Southwest Side warehouse complex

TRD CHICAGO /
Jun.June 24, 2019 11:00 AM
Clockwise from left: 3200 South Kilbourn Avenue, 901 Chase Avenue and 4000 South Racine Avenue (Credit: Google Maps)

Clockwise from left: 3200 South Kilbourn Avenue, 901 Chase Avenue and 4000 South Racine Avenue (Credit: Google Maps)

May saw a slowdown in top-dollar industrial sales after the market’s investment activity had picked up in a big way in April.

The top five priciest industrial sales of May saw a combined $57 million investment in the local warehouse market. That’s a sharp drop from the month prior, when the top sales totaled $160 million. Still, May’s activity is up from earlier months like March, which saw only $24 million spent on the biggest industrial deals.

The biggest deal May was Angelo Gordon’s $26 million purchase of a 19-acre warehouse development on the city’s Southwest Side. Another Southwest Side deal made the list, with Venture One Real Estate paying $7.3 million for an industrial facility in Back of the Yards.

Chicago still has one of the hottest industrial markets in the country, despite the possibility of new taxes and some chatter of overbuilding. Growing e-commerce, and the newly legalized recreational marijuana industry, are likely to keep the industrial market surging for the foreseeable future.

All transaction information in this list comes from Cook County property records.

1. 3200 South Kilbourn Avenue | $26.3 million

New York-based Angelo Gordon & Co. paid $26.3 million for this 402,000-square-foot warehouse facility on the border of Chicago and Cicero. The property includes two factories operated by the Bway Corporation. Selling the site was Oak Brook-based CenterPoint Properties, which bought the facility in 2007 for $12 million.

2. 17201 State Street, South Holland | $8.6 million

Burr Ridge-based Miodrag Real Estate paid $8.6 million for this warehouse in the south suburbs. Selling the property was C.R. England Trucking Company, property records show. The facility includes over 42,000 square feet of refrigerated and cold storage, according to Loopnet.

3. 1910 Carboy Road, Mount Prospect | $7.8 million

Brennan Investment Group of Rosemont picked up this manufacturing plant for $7.8 million. Selling the facility was Glen Une Management, a California-based real estate investment company. The property, built in 1988, includes 81,000 square feet of industrial space and is leased by control panel manufacturer K&B Controls.

4. 4000 South Racine Avenue | $7.3 million

Rosemont-based Venture One Real Estate paid $7.3 million for this vacant building in the Stockyards Industrial Park. The facility includes 140,000 square feet of warehouse space and 3,200 square feet of office space. Selling the property were investors Karyn Liss, Bruce Saltzberg and Terry Saltzberg.

5. 901 Chase Avenue, Elk Grove Village | $7.3 million

Duke Realty of Indianapolis picked up this manufacturing site in one of the hottest industrial submarkets in the area for $7.3 million. Selling the property was the family of Cyrus Tang, local industrialist and founder of Tang Industries. The warehouse is leased by ADC Diecasting, which announced in April it was liquidating.


Related Articles

arrow_forward_ios
From top: 5959 West Howard Street, 1109 East Lake Street and 3000 South Damen Avenue (Credit: Google Maps)From top: 5959 West Howard Street, 1109 East Lake Street and 3000 South Damen Avenue (Credit: Google Maps)

Here are the 5 top industrial sales in Chicagoland this year

Amazon CEO Jeff Bezos and Hillwood Investment Properties’ 3639 Howard Street in Skokie, Illinois (Credit: Getty Images and Hillwood Investment Properties)

Amazon, with an insatiable appetite for warehouse space, appears to make big play in Skokie

Logistics Property Company Executive Vice President Aaron Martell and a rendering of the project

From residential to industrial: Logistics Property nears deal with homeowners to make way for warehouse project

Colliers Chicago's Jim Carris and Alissa Adler

Colliers Chicago will fold Podolsky Circle into its CRE business

Hilco Redevelopment Partners CEO Roberto Perez and a rendering of Exchange 55

Hilco secures financing for massive power plant redevelopment

Eugene Gorab and 930 West Evergreen Avenue (Credit: Google Maps)

Greenfield Partners pays $73M for Goose Island home of high-tech manufacturing plant

One Winnetka rendering and developer David Trandel

Chicago Cheat Sheet: Developer David Trandel said he’s fixing One Winnetka problems

Conor Commercial CEO Jim McShane

Conor Commercial cleared to build big Palatine industrial project

arrow_forward_ios
Loading...