Industrial N Illinois

Colliers arranges sale of three industrial properties for redevelopment

Colliers arranges sale of three industrial properties for redevelopment,ph1

Colliers International I Chicago’s Chris Volkert represented two private sellers in the sale of three, single-story industrial properties in Skokie, Illinois. Panattoni acquired the properties, which include a 78,101-square-foot building at 7515 Linder Avenue, a 35,000-square-foot building at 7555 Linder Avenue and a 44,000-square-foot building at 7520 Long Avenue.

Panattoni plans to demolish the buildings in order to make way for a state-of-the-art, 140,000-square-foot spec warehouse/distribution facility on the 7.1-acre site. A prime infill location, the facility will feature 32-foot clear ceiling heights, 30 exterior docks, two drive-in doors and parking for 141. Delivery of the property, designed by Harris Architects, Inc., is set for fourth quarter 2019.

The developer recently picked up two other infill sites in the Chicago area: a 9-acre site located at 928-960 Wolf Road in Wheeling, Illinois and a 7.6-acre property at Rockland Road and I-94 in Green Oaks, Illinois. Panattoni plans to build a 162,000-square-foot and a 161,000-square-foot distribution facility at each location respectively.

“Users seeking access to the city, surrounding suburbs and O’Hare will find these properties ideally suited for their various distribution needs,” said Volkert, whom Panattoni has retained to market all three projects.