Avison Young is listing a two-building, 508,088-square-foot industrial portfolio in Chicago’s South Cook submarket for sale.
The properties at 5555 W. 115th St. and 11535 S. Central Ave. are 100% occupied by credit tenants Crown Holdings Inc. and Berry Global, Inc., respectively. The listing offers opportunities for future development in addition to a strong credit tenancy.
The portfolio listing is managed by Erik Foster and Michael Wilson, both Principals within Avison Young’s Industrial National Capital Markets Group, with support by industrial brokers Adam Haefner, Zeke Rowan, and Martin Mikitas, all based in the firm’s Chicago offices.
“The South Cook submarket is comprised primarily of older inventory and smaller building footprints, which set these newer properties apart from their competition,” said Foster. “The location of these properties along with a strong credit tenancy, quality construction, and stable revenue is optimal for future owners seeking cashflow security and favorable returns.”
Adjacent to the industrial property sits an 11.89-acre parcel, which can be developed. “A buyer could easily build a state-of-the-art class A facility that would go unmatched in this submarket and achieve substantial return due to the lack of competitive product,” said Wilson.
The portfolio is located within an established business park near Interstate 294 and Cicero Avenue, which is outside the congestion of the Chicago market and providing ease of access to the main arteries of the Midwest.
