TradeLane Properties—through its Chicago-focused, value-add industrial fund, TLP Fund I—has closed on an urban infill acquisition of the 20,611-square-foot warehouse facility located at 1532 W. Fulton Street in Chicago. This is TradeLane’s second acquisition in the Kinzie Industrial Corridor/West Fulton Market.
This 14-foot clear height industrial building includes 18 off-street parking spots, one drive-in door and two interior dock positions. The building will be available for lease in July 2021. This acquisition, adjacent to the 325 N. Ashland building acquired by TradeLane in July 2020, forms a combined 1.97 acre site that encompasses the entire city block bounded by Ashland Avenue, Fulton Street, Carroll Avenue and Justine Street. This site would allow for up to 242,550 square feet of multi-tenant new development to include last-mile distribution, data center and office/mixed uses.
Tom Condon, SIOR and Sean Austin of Lee & Associates assisted in this transaction, as did Wintrust Commercial Bank and Greenberg Traurig LLP.
