DTZ represented Aires Press in the disposition of a three-story 24,000 sq ft industrial property at 1026 W. Van Buren Street in the Chicago’s West Loop, adjacent to the booming Roosevelt Road retail and residential corridor.
The buyer is Mark Dayan, a local developer, represented by Mark Nelson of the firm Nelson Hill.
DTZ Associate Vice Presidents Robert Tamillo and Zach Pruitt of the Chicago industrial brokerage team represented Aires Press in the transaction.
“The sale of 1026 W. Van Buren is an indicator of the growing demand by developers for boutique buildings situated in the emerging West Loop,” commented Mr. Tamillo and Mr. Pruitt. “We are witnessing a significant market shift from an area previously defined by its vintage, owner-occupied industrial buildings toward an evolving residential, office and retail center.”
Additional details of the agreement were not released.
