Brown Commercial Group negotiated the acquisition of a 29,856-square-foot industrial facility that will allow a growing food services company to expand.
Partner Trinity Scurto represented Ideal Bakery, a wholesale bakery company, in buying the facility at 1250 Pratt Blvd. in Elk Grove Village in the O’Hare submarket. The company was looking for additional space to expand its operations and its industrial bakery business that supplies goods to multiple Chicago area locations.
Businesses and investors continue to focus on the O’Hare submarket due to its proximity to O’Hare International Airport and surrounding transportation corridors, along with the proximity it offers to Chicago’s strong labor pools. According to CoStar research, industrial rents in the O’Hare submarket are about 15% higher than the overall Chicago average, running about $10.70 per square foot. Rents increased 7.7% over the past year, which is similar to the increase seen throughout the Chicago market.
