Avison Young brings 2-building industrial portfolio to market

Avison Young brings 2-building industrial portfolio to market May 23, 2024

The properties offer future development opportunities in critical Chicago location

Chicago, IL – Avison Young brings to market a two-building, 508,088-square-foot (sf) industrial portfolio in the South Cook submarket for sale. The properties at 5555 West 115th Street and 11535 South Central Avenue are 100% occupied by credit tenants Crown Holdings Inc. and Berry Global, Inc., respectively. The listing offers opportunities for future development in addition to a strong credit tenancy.

The portfolio listing is managed by Erik Foster and Michael Wilson, both Principals within Avison Young’s Industrial National Capital Markets Group, with support by industrial brokers Adam Haefner, Zeke Rowan, and Martin Mikitas, all based in the firm’s Chicago offices.

“The South Cook submarket is comprised primarily of older inventory and smaller building footprints, which set these newer properties apart from their competition,” said Foster. “The location of these properties along with a strong credit tenancy, quality construction, and stable revenue is optimal for future owners seeking cashflow security and favorable returns.”

Adjacent to the industrial property sits an 11.89-acre parcel, which can be developed. “A buyer could easily build a state-of-the-art class A facility that would go unmatched in this submarket and achieve substantial return due to the lack of competitive product,” said Wilson.

The portfolio is located within an established business park near Interstate 294 and Cicero Avenue, which is outside the congestion of the Chicago market and providing ease of access to the main arteries of the Midwest.

Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.

Avison Young is a 2023 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 12 consecutive years.

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For more information:

  • Download property photo here.

Media contact:

  • Nathan Reyna, Regional Media Relations & Content Specialist, Northeast: +1.917.877.1697