NAI Hiffman has brokered the off-market sale of 1556 W. 43rd St., a 225,000-square-foot refrigerated warehouse in Chicago’s Back of the Yards neighborhood, as well as the business occupying the facility, Ashland Cold Storage, on behalf of buyer Karis Cold. Karis Cold has engaged Artico Cold Storage to assume the facility’s operations.
John Basile, executive vice president with NAI Hiffman’s Industrial Brokerage Group, and Jay Maher, senior vice president at Nelson Hill, represented Karis Cold. Karis Cold is a private-equity-backed real estate company focused exclusively on serving the real estate needs of the cold storage industry, acquiring, developing, managing and investing in cold storage facilities nationwide.
The property is situated in the heart of the Chicago Stockyards Industrial Park, Chicago’s long-time epicenter for the region’s food processors and distributors. The park is a collection of approximately 100 businesses – warehouses, manufacturing plants and offices – built on the city’s former Stockyards property. The Stockyards are bounded by Pershing Road, Halsted Avenue, West 47th Street, and Ashland Avenue.
In all, 1556 W. 43rd St. has 6 million cubic feet of space, 22 truck docks and access to rail service. Services include blast freezing, government certification, import/export services and more. It is located less than 10 miles from downtown Chicago and is minutes to I-55, 1-57 and other major interstates.