Faropoint Acquires 250 Washtenaw Ave Industrial Facility In Chicago

The industrial facility at 250 N Washtenaw Ave in Chicago, IL, measuring 46,000 square feet, was acquired by Faropoint for an undisclosed sum. The property, a single-tenant building constructed in 1925, features two dock-high doors and a freezer/cooler build-out in the Kinzie Industrial Corridor.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Undisclosed
• Address: 250 N Washtenaw Ave, Chicago, IL
• Market: Chicago
• Buyer: Faropoint
• Buyer's Rep: Sean Austin (Colliers International)
• Seller: Unknown
• SF: 46,000

Sean Austin, who represents both the buyer and seller, facilitated the acquisition of the property at 250 Washtenaw Ave. Jordan Kovalsky, overseeing Faropoint's Midwest operations, expressed the company's strategic move to be closer to the populous areas in Chicago. Austin highlighted the significance of Faropoint's investment in the Kinzie Industrial Corridor, emphasizing the area's appeal to institutional capital targeting infill industrial assets near key business districts.