Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Chicago & Midwest  + Greater Chicagoland  + Industrial  | 

Faropoint Closes First Acquisition in Chicago Region

Just two months after opening a Chicago office, Faropoint has closed its first acquisition in the Chicago market. Transwestern represented the seller, Shah Badah Living Trust, in Faropoint’s purchase of a 30,000-square-foot industrial facility at 561 Mitchell Rd. in Glendale Heights, IL. The deal closed for $2,200,000. 

“Faropoint is excited to plant the flag in Chicago with this first acquisition,” said Jordan Kovalsky, SVP of Midwest markets at Faropoint. “We have had a fast-paced first two months with this deal being the first of many to close in the coming weeks.” 

She continued, “This acquisition is part of our ongoing effort to expand our portfolio in the Midwest. The Midwest markets continue to present opportunities to acquire industrial assets at a significant discount to replacement cost. We are finding that developers are no longer able to easily develop product below 150,000 square feet due to the rising cost of construction.” 


Inside The Story


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).