Sitex Group, a fully integrated private equity firm that specializes in industrial real estate investment, development and asset management, has acquired a 128,000-square-foot vacant warehouse located at 5000 South Homan in Chicago.
Situated on an extraordinarily large land site – almost 16 acres – in the city’s 14th ward near the I-55/Pulaski Ave. interchange, the former CN Railroad distribution facility features 30′ clear ceiling height, 30 exterior loading docks, grade level access and office space. The on-site transload ramp can accommodate eight rail cars and 10 trailers for rail to truck or truck to truck transloading.
“This property is unique combining modern building amenities, functionality and significant paved outdoor areas for parking or storage. A property with these features is always in high demand but difficult to find in an infill location in Chicago,” said Sitex Group’s Cary Goldman.
Sitex Group will begin renovations immediately. Plans call for façade enhancements, parking lot improvements as well as renovated office space and the addition of modern lighting. “We’re actively looking for an outstanding tenant who can benefit from a highly efficient, rail served building in a vibrant neighborhood,” added Goldman.
Sitex has earned a reputation as a creative developer in the industry and is noted for its expertise in turning functionally obsolete buildings in mature markets into highly desirable properties for today’s industrial users. The firm recently launched its newest investment vehicle, Sitex Fund VIII, and is actively seeking opportunities to develop and/or acquire additional industrial properties.
