Bank Of America Acquires 650,000-Square-Foot Logistics Building In North Aurora For $55.5M

Bank of America's investment arm has acquired a 650,000-square-foot logistics building located at 1200 Orchard Gateway Boulevard in North Aurora, Chicago. The property was purchased from American Realty Advisors for a price of $55.5 million. This transaction highlights the strength of the local industrial market and showcases the positive performance of the Interstate 88 corridor. The property's value has significantly increased since its initial purchase in 2015.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $55,500,000
• Size: 650,000 square feet
• Price per Square Foot: $85
• Address: 1200 Orchard Gateway Boulevard, North Aurora, Chicago
• Market: North Aurora
• Buyer: Bank of America
• Seller: American Realty Advisors - Scott Darling

This acquisition by Bank of America further demonstrates their interest and investment in the local industrial sector. The purchase of the logistics building aligns with their overall investment strategy and is indicative of the growing demand for industrial properties in North Aurora. With its prime location and substantial square footage, this property presents a valuable opportunity for Bank of America to expand their portfolio and capitalize on the positive market conditions in the area.