Leo Addimando Of Alterra IOS Acquires 2.8 Acre Industrial Site In Elmhurst With 35000 SF
216 West Diversey Avenue
Building Size
35,000 SF
Asset Type
Industrial
Closing
Sep 22, 2025
AI
The asset involved in this transaction is an industrial outdoor storage site located at 216 West Diversey Avenue in Elmhurst, covering an area of 2.8 acres. The property boasts a total square footage of 35,000, consisting of warehouse and office space. It is fully leased and marks a significant addition to the portfolio of Alterra IOS in the Chicago market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: Not disclosed
- Square Footage: 35,000
- Address: 216 West Diversey Avenue
- Market: Elmhurst
- Acres: 2.8
- Buyer: Leo Addimando
- Buyer Company: Alterra IOS
This transaction represents the twelfth location acquired by Alterra IOS in the Chicagoland area. With this acquisition, Alterra’s portfolio in the Chicago area now consists of four sites totaling 16.8 acres for the year 2024.
Players
Elmhurst Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
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