Nathaniel Hagedorn Of NorthPoint Development Acquires Industrial Portfolio From Robert Chagares For $270M In Elgin

An industrial portfolio located at multiple addresses including 2550-2580 Northwest Parkway and 2400-2430 Galvin Drive, among others in Elgin, was sold for $270 million. The total square footage of the portfolio is approximately 2,800,000 square feet, resulting in a price per square foot of $96.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $270,000,000
• Buyer: Nathaniel Hagedorn - NorthPoint Development
• Seller: Robert Chagares - High Street Logistics
• Market: Elgin
• Square Footage: 2,800,000
• Price per Square Foot: $96

Nathaniel Hagedorn, representing NorthPoint Development, has acquired this substantial industrial portfolio from Robert Chagares, who represented High Street Logistics, highlighting significant activity in the Chicago industrial market amidst a backdrop of rising lease rates and subdued specifications development.