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American Machine Works Sells 16K-SF Warehouse in Indiana
Marcus & Millichap arranged the sale of 570 Progress Ave., a 16,000-square-foot industrial warehouse property located in Munster, Indiana. The property sold for $2.75 million.
“We successfully facilitated this transaction, moving from listing to under contract in just 21 days and closing at 95 percent of our pricing guidance,” said Clayton Isacson, associate. “This transaction demonstrates the strong demand for industrial assets in the Chicagoland area, with an out-of-market investor capitalizing on the opportunity to expand their market share.”
Isacson, Tyler Sharp and Adam Abushagur, investment specialists in Marcus & Millichap’s Chicago and Austin offices, marketed the property on behalf of the seller, American Machine Works, Inc. Josh Caruana, Broker of Record in Indiana, assisted in closing the transaction.
The property consists of approximately 16,000 square feet of warehouse space on 1.03 acres of land. This vacant single-tenant asset is equipped with two five-ton cranes, 24’ clear height, three drive-ins and one dock-high door.
