CHICAGO—The boom in industrial real estate has opened up many opportunities in the Chicago metro area. Dayton Street Partners, for example, has in the past few years acquired and renovated well-located properties that need some work, bringing each up to modern, up-to-date standards. This strategy led to its recent acquisition of 920 W. Pershing Rd., an industrial in-fill property in what once was the heart of the city's stockyards neighborhood. Terms of the transaction were not disclosed, but Cook County records indicate the price was $900,000.

Dayton plans to modernize and reposition the property's 45,000-square-foot distribution facility. It features 20' clear ceilings and seven docks. As part of the modernization, Dayton will install an energy efficient roof, new energy efficient interior and exterior lighting, and all new components for the docks.

“920 West Pershing is one of the last remaining well located single story buildings in the South Chicago submarket, let alone the entire city,” says Howard Wedren, Dayton's founder. “This acquisition fits well within our strategy of acquiring well located, urban distribution facilities that require some TLC in order to become institutional quality.”