Marcus & Millichap closed the sale of 855 Morse Ave., a 95,000-square foot industrial property located in Elk Grove Village, IL. The asset sold for its listing price at $6,900,000 and went from listing to closing in less than 50 days.
Peter Doughty, senior associate in Marcus & Millichap’s Chicago Downtown office who specializes in the sale of industrial investment properties throughout Chicagoland, marketed the property on behalf of the seller, a partnership. The buyer, Texas-based fund AIC Ventures, was also secured by Doughty.
The offering received significant interest from investors on a national and international scale. “Being the largest industrial park in North America, Elk Grove Village contains exceptional investment fundamentals,” said Doughty. “We continue to see strong demand for in-fill located assets with longstanding tenancy.”
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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