Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
JV Acquires Sky Harbor Industrial Park Properties
A joint venture partnership between Oak Brook-Illinois-based real estate investment firm Clear Height Properties and Houston-Texas-based ICP Funds has acquired two multi-tenant light industrial buildings totaling 93,059 square feet in Northbrook’s Sky Harbor Industrial Park.
JLL’s Sean Devaney, Kurt Sarbaugh and John Huguenard were the sole brokers in the sale transaction. Located in Chicago’s infill North Cook County industrial submarket, the buildings are located at 720-730 Landwehr Road and 305-311 Era Drive. The portfolio is fully leased, with the Landwehr building being home to two tenants and the Era building home to three tenants.
“We are excited to add these multi-tenant properties to our portfolio due to their exceptional location and immediate proximity to I-294,” said Rick Nevarez, director of acquisitions, at Clear Height Properties.
Clear Height Properties has bought and sold over $830 million in assets over the past ten years. ICP Funds is an evergreen private equity real estate fund, with properties in 14 U.S. cities, that pools investors’ funds into its growing portfolio of industrial, flex, and suburban corporate offices.
