A joint venture partnership between Clear Height Properties and Harbert U.S. Real Estate has sold a 140,796-square-foot, seven-building industrial portfolio located at 747 N. Church Road in Elmhurst.
The portfolio is 100% leased to 23 tenants ranging in size from 1,300-14,000 square feet. The buyer was Hamilton Partners.
“The prime location, just north of Lake St. off I-290, was a key factor for the buyer,” said Clear Height Properties VP of Asset Management & Acquisitions Tom Seurynck. “And industrial demand remains robust for small to mid-sized tenants, so this property offers a very strong current cash flow while simultaneously providing future optionality due to the location.”
The sale of 747 Church is the first for the joint venture, which now includes 18 assets and approximately 1.3 million square feet.
