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Tesla Service Center Avondale Chicago

Exan Acquires One of Two Tesla Service Centers in Chicago

Cushman & Wakefield represented a private owner in its $13.1-million sale of the Tesla Service Center of Chicago property at 3059-3057 N. Elston Ave. in the Northwest Side neighborhood of Avondale. Miami-based Exan Capital acquired the site on behalf of a separate account, Chicago Elston One, LLC. 

Managing directors Michael Marks and Evan Halkias, associate director David Matheis and associate Eric Cline represented ownership. 

Built-to-suit for Tesla and opened in 2019, the property includes a 31,700-square-foot building that was recently reconstructed to meet the electric car maker’s standards. It’s one of only two Tesla Service Centers in the city of Chicago.  

“A property of this quality with a high-profile, publicly traded tenant drew strong investor interest,” said Marks. “With abundant capital on the sidelines poised for investment and an overall flight to quality, we’ll continue to see buyers take an aggressive approach on opportunities with infill locations and strategic fundamentals.” 

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Cushman & Wakefield’s Marks

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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).

  • ◦Sale/Acquisition
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