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Chicago & Midwest  + North Side  + Finance  | 
1237 West Division will be the first multi-story industrial property to be constructed in Chicago

Logistics Property Co. Closes on $150M Financing for Multi-Story Goose Island Project

Logistics Property Company, LLC (LPC), Wells Fargo Bank, Inland Bank and Trust and Associated Bank have closed on the $150-million construction loan for LPC’s multi-story warehouse in Chicago. The first multi-story industrial project in the city, 1237 West Division will feature 1.2 million square feet of logistics space across two floors and offer both rooftop parking and an adjacent five-story parking garage in the Goose Island neighborhood. 

“The relationships that we’ve cultivated over the last 25 years have been paramount to our continued access to the capital markets,” said Katherine Bernstein, SVP – Capital Markets at LPC. “We’re very grateful as our success would not exist without our lenders.” 

Central division head Michael Svets and relationship manager Jeff Goodman led the financing for Wells Fargo. The project will have direct loading on the first and second floors, each with a 135-foot truck court. 

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Logistics Property Co.

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).

  • ◦Development
  • ◦Financing
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