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Big Demand for Second Generation Industrial

The Chicago metro area's industrial sector continues to attract big investments from the West Coast.

By Brian J. Rogal | Updated on October 26, 2017

chi-Mirvaccoverimagecopy (3) The property just sold by Mirvac is near the western entrance to O’Hare Airport.

CHICAGO—The Chicago metro area’s industrial sector continues to attract big investments from the West Coast. LBA Realty, an Irvine, CA-based investment firm, just bought a three-building, 538,236-square-foot portfolio located on 24 acres in Elk Grove Village near the western entrance of the city’s O’Hare International Airport, one of the region’s most desirable submarkets. According to Cook County property records, the price was $40.1 million.

Clear Lam and D&W Fine Pak occupy 100% of the buildings at 1900 Pratt Blvd., 1950 Pratt Blvd. and 2000-2020 Pratt Blvd. The national food companies have long-term leases for the space, which is vitally important for their operations, an appealing factor to many potential investors.

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