Industrial N Illinois

Avison Young sells four-building industrial portfolio near O’Hare Airport

Avison Young sells four-building industrial portfolio,ph01

Avison Young has negotiated the sale of a 190,000-square-foot, four-building industrial portfolio in Chicago’s O’Hare submarket. The multi-tenant portfolio is located on a contiguous 10.28-acre site in Mount Prospect, Illinois, north of O’Hare International Airport.

The portfolio, which is 97 percent leased, includes manufacturing tenants EPP Corp., Nikuni America and Lapmaster International. The buyer is a private institutional-equity provider based in Los Angeles. Financial terms were not disclosed.

Avison Young Principals Erik Foster and Mike Wilson, both based in the company’s Chicago office and members of the firm’s national industrial capital markets group, represented the owner, Clear Height Properties, a Chicago-based investment firm. The portfolio consists of 501 Algonquin Road (62,344-square-foot building), 401-411 West Algonquin Road (15,278-square-foot), and 1840-1864 and 1870-1894 South Elmhurst Road (56,182-square-foot in each complex).