Brown Commercial Group negotiates 26,209-SF industrial multi-unit acquisition in ChicagoBrown Commercial Group
Feb. 14, 2022 — Brown Commercial Group negotiated a 26,209-square foot industrial building acquisition in Chicago’s West Cook North submarket. Broker Pat Crowley represented a private investor in expanding its portfolio with the purchase of a seven-unit building at 500 N. Mannheim Road in Hillside, Illinois. The multi-unit property is fully leased and located on 1.73 acres in a submarket with limited available space.
According to CoStar research in early February 2022, the West Cook North submarket has a 3.7 percent vacancy rate and has seen 8.1 percent rent growth over the past 12 months. That submarket also had 264,669 square feet of absorption over the past 12 months. There are currently five industrial buildings totaling 846,000 under construction.
The 500 N. Mannheim Road multi-unit building was built in 1970 and is located in proximity to several major transportation routes, including I-290. The building has one dock door and eight drive-in doors.
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Brown Commercial Group is a boutique, full-service commercial real estate firm specializing in the marketing, disposition and acquisition of industrial, office and investment grade real estate in the Chicago metropolitan area. Our experienced professionals have built numerous relationships while gaining a thorough understanding of the intricacies needed to negotiate and secure the most timely and favorable results for all of our clients. We are big enough to get the job done but small enough to care about each individual client. When you hire Brown Commercial Group our entire staff becomes your team all the way up to the firm’s President.