O’Hare Industrial Building SellsBrown Commercial Group
November 1, 2023 — Investors looking for an O’Hare industrial building to purchase continue to find a shortage of viable options. A deeper look at the market shows there are options, but many rely on working with brokers who have an inside track to off-market property. One example is a recent transaction from Brown Commercial Group. Vice President of Sales Mason Hezner represented Clear Height Properties, an industrial investment and management firm, in the purchase of an off-market property Hezner identified through industry connections.
The two-unit, 20,000-square-foot O’Hare industrial building at 500-502 Crossen Avenue in Elk Grove Village, IL sold for $1.6 million. It includes two, 10,000-square-foot units, each fully leased. Both units are fully leased: Unit 500 is leased to Polaris Worldwide Logistics and Unit 502 is leased to Cleaver Brooks Sales and Service, Inc.
“Investors looking for small to mid-sized industrial investment property have few options in today’s market,” said Hezner, who has had notable success finding off-market properties such as this one through his network of local owners and investors.
The O’Hare industrial submarket is one of the hottest submarkets in the Chicago market due to its central location and ties to the airport’s cargo and logistics operations.
See the Daily Herald story for more.