West Chicago Industrial Asset Changes Hands
Buyer Clear Height Properties will manage the 1946-built warehouse, which is fully leased to a box manufacturer.
Rola Corp. sold a 128,000-square-foot industrial building in Chicago to Clear Height Properties. NAI Hiffman negotiated on behalf of the seller and procured the buyer. The brokerage had listed the asset for $4.5 million.
Constructed in 1946, the building has seven loading docks, one drive-in door and clear heights ranging from 12 to 18 feet. Box manufacturer Packaging Corp. of America fully occupies the warehouse under a five-year lease with a five-year extension option. The new owner will take over management operations at the property.
Located on 4.1 acres at 5200-5230 W. Roosevelt Road in Chicago’s West Side, the property is 2 miles north of BNSF’s Cicero Intermodal Terminal. The warehouse is near Interstate 290, which provides access 7 miles east to downtown Chicago and 15 miles northwest to O’Hare International Airport.
The NAI Hiffman team included Executive Vice President Joe Bronson, Senior Associate Josh Will and Associate Aimee Goudas. In November, the firm represented Heller Industrial Parks in the sale of a 254,425-square-foot distribution warehouse.
As seen at Commercial Property Executive.