CHICAGO—The Chicago industrial market continues to attract a flood of investment, and the intense competition is pushing many buyers to look past class A properties. Chicago-based Clear Height Properties LLC has acquired a 105,000-square-foot industrial property at 2000 Bloomingdale Rd. in suburban Glendale Heights, from a private investor for an undisclosed amount. This acquisition adds to its collection of suburban class B properties, which includes a six-building portfolio that recently saw its occupancy jump from 74% to 92%.

Transwestern principal Justin Lerner and director Joe Karmin represented Clear Height in the transaction and were retained to provide leasing services.

“Due to the limited availability of land in central DuPage County, we've seen strong demand from investors looking for well-located, income-producing assets in this submarket,” Lerner says “Our familiarity with the market allowed us to identify this rare value-add opportunity that will benefit from Clear Height's planned renovations while still presenting a relative value compared with similar product in adjacent submarkets like O'Hare.”