Chicago & Midwest + Greater Chicagoland | May 24, 2022

Cresa Chicago represented CTL Global in the sale-leaseback of its Northlake, IL warehouse

Cresa Reps CTL Global in Northlake Sale-Leaseback

Cresa Chicago’s Ed Lowenbaum, along with Cresa Chicago’s Capital Markets team of George Mack and Mike Duncan, represented CTL Global, Inc. in the sale-leaseback of its 48,340-square-foot warehouse at 11697 W. Grand Ave., Northlake, IL. Faropoint Ventures, LLC acquired the asset for an undisclosed price.

The last mile logistics property is adjacent to I-294 and on the southern edge of O’Hare International Airport. With its central location, the warehouse provides conveninent access to the Interstate Highway System including I-290, I-294, I-90, I-88 and I-355.

“This was a terrific opportunity for our client to monetize their asset at peak value while retaining its use for their remaining operational needs,” said Lowenbaum. “We are pleased to have secured a very flexible solution for our client.”

CTL built the warehouse in 2003. The company also has locations in Elmhurst and Elk Grove Village. Faropoint’s Jordan Kovalsky led the firm’s in-house acquisition team.

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Inside The Story

Cresa's LowenbaumFaropoint's Kovalsky

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).