CHICAGO, IL- NelsonHill announced yesterday that they had completed the sale of a 24,300 SF industrial warehouse located in Chicago's Kinzie Industrial Corridor. A local investor called 1735 W. Carroll LLC purchased the building.
U.S. Adhesives rents the entire space and has a lease that runs through 2017. The city of Chicago has put in several plans over the years to upgrade the area. The building is located within an Enterprise and Empowerment Zone and part of the neighborhood is covered by a Tax Increment Financing District.
“The acquisition represented a 13% cap rate for the buyer and offers excellent re-development potential,” stated Michael Nelson of NelsonHill, who along with Mark Nelson, represented the property seller. The buyer was not represented.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
