A joint venture partnership between Oak Brook-based Clear Height Properties and Chicago-based Blackbird Investment Group has sold a 56,500 square-foot industrial building located at 1400 Greenleaf Ave. in Elk Grove Village, Illinois.
The team acquired the property in January 2021, secured 6b tax eligibility, and completed renovations totaling approximately $720,000. Construction projects included improvements to the facade, main entrance, parking lot, lighting, landscaping, and office, including lighting, painting, carpeting, ceiling tile replacement, and improvements to the bathrooms and kitchenette.
With immediate access to O’Hare and I-90, the masonry building was constructed in 1973 and features wide-open warehouse space, a 9,500-square-foot office, a 1,200-square-foot mezzanine, three loading docks and a clear height of 18.5 feet.
The buyer is Ideal Property Investments. Justin Lerner, EVP at Transwestern, represented both parties.
