Colliers Chicago’s Capital Markets team led by Jeff Devine, Steve Disse, and Tyler Ziebel represented an institutional real estate advisor in the sale of 800 Phoenix Lake Ave., a 152,304-square-foot, state-of-the-art logistics facility just west of O’Hare International Airport in Streamwood, Illinois.
The buyer was an institutional investor based in Atlanta.
Built on spec in 2020 by Chicago-based industrial developer The Missner Group, the property is ideal for small to midsize users, offering some of the most modern space in the area with 32’ clear height ceiling, abundant car parking and ESFR fire protection. It is currently 100% leased to two tenants with staggered lease expirations: Pelton Sheperd Industries and ACME Furniture.
The facility benefits from its strategic location near the full, four-way interchange at Irving Park Road and the Elgin-O’Hare Expressway (I-390) and provides immediate access to the U.S. interstate system as well as O’Hare International Airport.
According to Devine, as rents in the O’Hare submarket continue to rise and available options become increasingly scarce, many users are now turning to the Northwest submarket as a viable alternative. This area offers modern, functional facilities at more competitive rents, making it an attractive choice for those seeking both quality and affordability.
