Cresa Chicago’s Ed Lowenbaum, along with Cresa Chicago’s Capital Markets team of George Mack and Mike Duncan, represented CTL Global, Inc. in the sale-leaseback of its 48,340-square-foot warehouse at 11697 W. Grand Ave., Northlake, Illinois. Faropoint Ventures, LLC acquired the asset for an undisclosed price.
The last mile logistics property features 24-foot clear ceiling height, a significant amount of mezzanine space, six docks and two drive-in doors. It is adjacent to I-294 and on the southern edge of O’Hare International Airport. With its central location, the warehouse provides unparalleled access to the Interstate Highway System including I-290, I-294, I-90, I-88 and I-355.
CTL built the building in 2003. The company also has locations in Elmhurst and Elk Grove Village.
Faropoint’s Jordan Kovalsky led the firm’s in-house acquisition team.