The purchase was a 265,000-sf industrial building on a 15-acre site at the southeast corner of Illinois Route 83 and Landmeier Road in northwest suburban Elk Grove Village. The package of properties bought by the largest industrial property company in the Chicago market is expected to provide an 11% yield. CenterPoint also bought two buildings in nearby Des Plaines and one in Bensenville, along with one in southwest suburban Burr Ridge and one in Milwaukee.

The Elk Grove Village property is the most attractive because of the lack of vacant land just beyond O'Hare. "We have several users interested in the 15-acre site because of its excellent access to ground transportation, its rail service and its proximity to O'Hare," said senior vice president of investments Sean Maher.

CenterPoint's sales included a package of 19 properties scattered throughout the suburban market. The largest building was a 36,469-sf facility at 11100 W. Addison St. in Franklin Park, just south of O'Hare. Vice president of external affairs Rhonda Mork said buildings in the package ranged down in size to less than 10,000 sf.