Midwest Industrial acquires 198,000 SF

Midwest Industrial Funds recently purchased two industrial buildings in Lisle and Chicago totaling 198,000 SF. Both buildings were purchased fully leased from two separate sellers.

4925 Indiana in Lisle, IL is a 105,925 SF headquarters type building with 18’-30’ ceilings, heavy power and 8 exterior loading docks.  It is located on a large, hard to find 8.4 acre land site in the very desirable Central DuPage County Submarket.  The property is currently leased and occupied by Walker Athletics.  Prior to Walker’s occupancy, it was owned and occupied by Tellabs.  Midwest Industrial plans to renovate and upgrade the property over time.

4400 S. Kolmar, Chicago, IL is a 92,000 SF light industrial building with 17’-25’ ceilings, heavy power, 5 drive-in doors and 11 exterior loading docks located on an oversized site. The property is in the Crawford Industrial Park and has great expressway access to I-55 at Pulaski.  The building is fully leased to two tenants with Nestle Waters being the anchor tenant.  They use the facility as a distribution hub for their metro Chicagoland deliveries and benefit greatly from the fenced and secured truck court as well as dedicated truck parking area.  Michael Caprile and his team at CBRE represented the seller, an affiliate of ML Realty Partners.

“We are very pleased to add these properties to our growing portfolio. They are both unique assets for their submarkets and we like the long term investment potential,” said Michael Androwich, Principal of Midwest Industrial Funds.  Midwest Industrial has acquired 11 buildings totaling over 900,000 SF since launching their discretionary fund in early 2015.  The Principals of Midwest Industrial manage and co-invest in this discretionary fund.