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 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 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.
Jack Brown of Marcus & Millichap represented the seller.
