Colliers International | Chicago’s Patrick Turner and Brendan Green represented JSM Venture, Inc., led by Charlie Mengel, in the $2.3 million acquisition of a vacant 90,426-square-foot former Kmart located at 3355 Sheridan Road in Zion. JSM Venture will convert the building into an indoor self-storage facility with 69,750 rentable square feet.
“Given the rise of e-commerce and its impact on retail shopping habits, there is now a surplus of empty big box retail stores. Many of our clients—like JSM Ventures—are looking at alternative uses to fill these vacancies,” said Turner, a vice president with Colliers | Chicago.
The facility is expected to have 619 total storage units, with nearly 96 percent climate controlled and 4 percent non-climate controlled. Paine/Wetzel represented the seller, Amin & Shah Solutions, LLC, in the transaction.
