Updated Feb 28, 2025
LaSalle Investment Renews 106,100-SF Lease At Elk Grove Village Industrial Building
2551 Allan Drive & 2561 Allan Drive
Building Size
106,100 SF
Asset Type
Industrial
Closing
Dec 11, 2023
About this deal
AI
LaSalle Investment Management has renewed a lease for a 106,100-square-foot industrial building located at 2551-2561 Allan Drive in Elk Grove Village, a Chicago suburb. The property, acquired for $17.8 million in 2015, features 24-foot clear heights and offers convenient access to interstates 290 and 90. The industrial sector in Chicago has strong fundamentals, with a vacancy rate of 4.9 percent as of October.
Summary of transation details
- Property Type: Industrial
- Transaction Amount: Not specified
- Square Footage: 106,100
- Address: 2551-2561 Allan Drive
- Market: Elk Grove Village
The lease transaction was between LaSalle Investment Management, represented by Mark Gabbay, as the landlord, and Logisteed America Inc., represented by Greg Kodama, as the tenant. The landlord's representatives in the deal were Christopher Volkert and Jonathan Kohn from Colliers, while the tenant was represented by John Cassidy and Kenneth Franzese from Lee & Associates.
On the Map
Industrial
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Players
Elk Grove Village Industrial Market Snapshot
Boundary boundary · Industrial · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93