The asset involved in this transaction is a development site located at 7601 South Cicero Avenue in Chicago. The property encompasses 66 acres. Bridge Industrial has entered into a contract to acquire the site for $150 million, with plans to demolish the existing structures and construct a logistics complex covering 913,000 square feet.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $150,000,000
• Market: Chicago
• Asset Size: 66 acres
• Total Square Footage: 913,000
• Price Per Square Foot: $164
• Buyer: Steve Poulos - Bridge Industrial
• Seller: Igal Namdar - Namdar Realty Group

This deal features key individuals representing the buyer and seller. Steve Poulos acts on behalf of Bridge Industrial, while Igal Namdar represents Namdar Realty Group in this transaction. The planned redevelopment would represent a significant retail-to-industrial conversion in the city, with construction anticipated to begin in late 2026 pending city approval.