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GID Acquires Industrial Property In Bolingbrook, Chicago For $31M From TA Realty

Property Image
SOLD
$31,000,000

Illinois

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Industrial321,000 SF
Sold 07/12/2023
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Property Image
SOLD

GID Acquires Industrial Property In Bolingbrook, Chicago For $31M From TA Realty

3 Timber Ct Bolingbrook, Il 60440, Usa

See Similar Deals
Industrial321,000 SF
Sold 07/12/2023
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$96
Total Square Footage:321,000 SF
Transaction Type:Sale

GID, represented by Gregory Bates, has acquired a 321,000 sq-ft industrial property located at 3-9 Timber Court in Bolingbrook, Chicago. The property was purchased from TA Realty for a total of $31 million. This transaction marks a substantial increase in value since its initial purchase in 2016.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $31,000,000
  • Square Footage: 321,000 sq-ft
  • Address: 3-9 Timber Court, Bolingbrook, Chicago
  • Market: Bolingbrook

Despite a slight rise in vacancy rates due to increased supply in the Chicagoland area, the fully leased industrial building in Bolingbrook remains highly desired. The acquisition by GID showcases their confidence in the property's potential and the continued demand for industrial assets in the market.

Players

Gregory Bates
Gregory Bates
8 deals$534.4M volume
BUYER
TA Realty
TA Realty
SELLER

Details

SOLD
IMAGE: Gregory Bates DATE: 07/12/2023 ADDRESS: 3-9 Timber Court MARKET: Bolingbrook ASSET TYPE: Industrial BUYER: GID - Gregory Bates SELLER: TA Realty SALE PRICE: $31,000,000 SF: 321,000 ~ PPSF: $97 NOTE: GID bought a 321,000 sq-ft industrial property in Bolingbrook, Chicago, for $31 million from TA Realty, marking a substantial increase in value since its 2016 purchase. The fully leased building is in high demand, despite a slight rise in vacancy rates due to increased supply from developers in the Chicagoland area.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$110,136.45
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