Warehouse Near Chicago Executive Airport Sold for $1.9M
Marcus & Millichap brokered the sale of 200 E Marquardt Drive, a 30,000-square-foot industrial property in Wheeling, Illinois. The asset sold for $1.9 million. Dylan Hyde and Peter Doughty, investment specialists in Marcus & Millichap’s Chicago downtown office, had the exclusive listing to market the property on behalf of the seller, a private investor.
The asset is located at 200 E. Marquardt Drive in Wheeling just a few miles from the Chicago Executive Airport. The property was originally listed at $1.85 million and sold 40 days after it went up for sale. It is fully occupied with one tenant occupying 10,000 square feet and another with 20,000 square feet, reported the Chicago Business Journal.
“Wheeling has strong market fundamentals based on its location and should continue to see both sale and leasing activity in 2024,” Doughty told the outlet. In 2023, Sky Harbour Group announced the development of a Home Base campus at Chicago Executive Airport.
Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories.
With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.