Colliers Chicago’s Capital Markets team, led by Jeff Devine, Steve Disse, and Tyler Ziebel, recently represented an institutional real estate advisor in the sale of 800 Phoenix Lake Avenue, a 152,304-square-foot, state-of-the-art logistics facility just west of O’Hare International Airport in Streamwood. The buyer was an institutional investor based in Atlanta.

Built on spec in 2020 by Chicago-based industrial developer The Missner Group, the property is ideal for small to midsize users. It offers modern space with a 32′ clear-height ceiling, abundant car parking and ESFR fire protection. It is currently 100% leased to two tenants with staggered lease expirations, including Pelton Sheperd Industries and ACME Furniture.

The facility benefits from its strategic location near the full, four-way interchange at Irving Park Road and the Elgin-O’Hare Expressway. The property provides immediate access to the U.S. interstate system as well as O’Hare International Airport. “This was a unique opportunity to secure a Class A asset at a cost significantly below other comparable options around O’Hare,” said Devine.

Don’t miss the Lifetime Achievement Award Presentation and Keynote Interview with G. Joseph Cosenza, Vice Chairman of The Inland Real Estate Group, LLC and President of Inland Real Estate Acquisitions, LLC at Connect Midwest: Multifamily, Affordable, Student & Senior Housing Trends on June 4, 2024, at the W-Chicago, City Center Hotel, Chicago, IL. Register Today to network with your peers!