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Chicago & Midwest  + Greater Chicagoland  + Industrial  | 

CA Ventures Buys Elk Grove Site for First Chicago Industrial

Colliers International, Chicago has brokered the sale of an 8.28-acre site at 550 Devon Ave. in Elk Grove Village, IL, within the O’Hare industrial submarket. The purchase price was not disclosed.

The firm’s Tom Rodeno and Jonathon Kohn represented the seller, Terry Bolger, as well as the buyer, CA Ventures, in the transaction. The deal marks CA Ventures’ first foray into the Chicago industrial real estate market.

The 550 Devon site includes a 20,000-square-foot retail building that the company intends to reduce in size and modernize. Plans also call for the construction of a speculative 142,000-square-foot industrial building on the remainder of the land.

“With the proliferation of e-commerce and the impact it has had on distribution, the O’Hare submarket remains one of the hottest in Chicagoland and continues to see historically low vacancy rates,” said Rodeno, a principal with Colliers, Chicago.

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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 13-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 15-20 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 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).

  • ◦Development
  • ◦Sale/Acquisition
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