Faropoint announced today the purchase of an 82,506 square foot industrial facility on 3.5 acres located at 2101 Arthur Avenue, Elk Grove Village, IL. Mike Plumb and Brad Simousek with Lee & Associates represented the Buyer and Seller in the transaction, which closed on October 19, 2021.
“2101 Arthur is Faropoint’s third acquisition within the Elk Grove Village Industrial Park. We believe that there is still a lot of untapped potential in the O’Hare market,” said Ahmed Chapsi, Senior Associate of Asset Management at Faropoint Chicago. “We are constantly working with sellers and tenants to explore the best possible solutions for their needs,” explained Chapsi.
“Faropoint was extremely lucky to work with a great seller and broker on this transaction. The market fundamentals in O’Hare continue to outpace our expectations and we hope to find additional opportunities within this park,” said Jordan Kovalsky, who leads Faropoint’s Midwest operations.
2101 Arthur is a two-tenant building located in the O’Hare submarket of Chicago. The property is situated within Elk Grove Village Industrial Park. The building itself was constructed in 1970 with major renovations completed in 2019. It measures approximately 82,506 square-feet and offers twelve (12) dock-high doors and two (2) drive-in doors.
