Erik Foster and Mike Wilson of Avison Young’s Chicago Capital Markets Group have been awarded the exclusive sale listing of a two-building industrial portfolio totaling 161,255 square feet in Chicago’s DuPage County submarket.
The buildings include a 94,976-square-foot building at 7501 Quincy St. in Willowbrook and a 69,947-square-foot building at 191 S. Gary Ave. in Carol Stream.
“These two buildings are located in strong industrial markets and offer a prime opportunity to build long-term value through repositioning and additional leasing,” Wilson said.
According to Wilson, the addition of these two buildings to the marketplace underscores a current shift in investment activity toward Class B properties. As many newer, Class A buildings have traded in recent years or are being held as long-term investments, investors are shifting attention to Class B buildings as a way to get a foothold in the industrial market.
The 7501 S. Quincy St. building is ideal for light industrial users and located along the I-55 Corridor, just off of the Route 83 exit. The concrete and brick warehouse includes eight drive-in doors. The building is 78 percent leased and offers investors the potential for adding value through additional leasing activity.
The 191 S. Gary Ave. building is on Gary Avenue, just south of North Avenue, a major thoroughfare through the area. The building is now 90 percent occupied.
