Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Marcus & Millichap Arranges Sale of Chicago Self-Storage Properties
Marcus & Millichap has completed the sale of a two-property self-storage portfolio in Chicago, Illinois.
The portfolio includes two Honore Storage locations at 3215 W. Lawrence Avenue and 5145 N. Clark Street in Chicago. The Lawrence Avenue facility features 313 climate-controlled units and 95 non-climate-controlled units, totaling 26,951 rentable square feet. The Clark Street facility includes 108 climate-controlled units and 239 non-climate-controlled units, with 23,907 rentable square feet.
“This transaction demonstrated how headline risks create opportunity for new managers and the substantial ECRI potential in undersupplied pockets across the Chicago MSA,” said Jeffrey Herrmann, first vice president of investments. Herrmann and Sean Delaney had the exclusive listing to market the properties on behalf of the seller, Honore Holdings, and procured the buyer, Storage Post.
“Storage Post Self Storage marks a significant milestone by entering the Midwest market with the acquisition of five premium self-storage facilities in Chicagoland, bringing its renowned service to one of the nation’s busiest cities,” according to Storage Post.
