Industrial Building Sale On Grand Ave, Chicago To Local Construction Company

The industrial property involved in the transaction is a 43,000-square-foot building located at 4201-4223 Grand Avenue in Chicago. The property was sold by a private ownership group of a 50-year-old manufacturing operation to a local commercial and residential construction company. The facility includes over 5,000 square feet of office space, three truck doors, 12 on-site parking spaces, and more than 300 feet of Grand Avenue frontage.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: Not disclosed
• Address: 4201 W Grand Ave, Chicago, IL, 60651
• Market: Chicago
• Seller's Rep: Steven Kohn (Avison Young)
• Buyer: Unknown
• Square Footage: 43,000

Avison Young principal, Steve Kohn, served as the sole broker in the transaction. The buyer, a local construction company, intends to utilize the property for office consolidation, warehouse space, and yard purposes across multiple sites. Despite the property's age and some deferred maintenance, the limited availability of industrial infill buildings in Chicago made this purchase an attractive opportunity for the buyer. The property's location on Grand Avenue positions it well for the ongoing growth and redevelopment in the area. The building also offers the unique feature of ample space for full tractor trailers to dock without obstructing traffic, a valuable characteristic for infill locations.