Chicago & Midwest + Greater Chicagoland + Industrial | June 14, 2022

Clear Height/Harbert JV Divests Elmhurst Portfolio

A joint venture partnership between Clear Height Properties and Harbert US Real Estate has sold a 140,796 square-foot, seven-building industrial portfolio located at 747 N. Church Rd. in Elmhurst, IL for an undisclosed sum. The buyer was Hamilton Partners.

The sale of 747 N. Church is the first for the JV, which now includes 18 assets and approximately 1.3 million square feet. The portfolio is 100% leased to 23 tenants ranging in size from 1,300 to 14,000 square feet.

“The prime location, just north of Lake St. off I-290, was a key factor for the buyer,” said Tom Seurynck, VP of asset management & acquisitions at Clear Height. “And industrial demand remains robust for small to mid-sized tenants, so this property offers a very strong current cash flow while simultaneously providing future optionality due to the location.”

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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 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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