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Chicago & Midwest  + Chicago + Greater Chicagoland  + Industrial  |  March 30, 2023
Paul Bubny
By: Paul Bubny

Flex Industrial Portfolio in Lisle and Northbrook Trades to West Coast Buyer

Greenstone Partners, a leading commercial real estate brokerage firm in Chicago, closed the $9.4-million sale of the Chicago MSA Flex-Industrial Portfolio. Totaling 117,000 rentable square feet, it’s spread across three properties located at 2200 Ogden Ave. and 1997 Ohio St. in Lisle, IL and 3170-3190 MacArthur Blvd. in Northbrook, IL. 

The deal was brokered by senior director Paul Tesdal and managing partner Jason St. John. “The fully leased portfolio presented the buyer with strong in-place cashflow with a property type that continues to see rent growth,” said Tesdal.  

The portfolio is comprised of two multi-tenant buildings and one single-tenant property, with 10 tenants from wide ranging industries, including healthcare, technology, marketing services, e-commerce, wholesale distribution, and custom design/build.  

Greenstone Partners represented the seller, a Chicago-based investment group. Through a competitive bid process, Greenstone also procured the buyer, a West Coast-based real estate investment group. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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