Amazon Purchases 1.2 Million Square Foot Warehouse In Chicago From Logistics Property Co. For $195M

The property asset involved in this transaction is a 1.2 million square-foot vertical warehouse situated at 1237 West Division Street in Chicago, IL. The warehouse spans an area of 11.5 acres and was sold for $195 million, translating to a price per square foot of $163. This facility, constructed in 2024, had been vacant prior to the transaction and is expected to be utilized as an Amazon hub for expanding same-day delivery services in the Chicago area.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $195,000,000
• Address: 1237 West Division Street
• Market: Chicago, IL
• Buyer: Andy Jassy - Amazon
• Seller: James G. Martell - Logistics Property Co.
• Broker: JLL
• Acres: 11.5
• Square Feet: 1,200,000
• Price Per Square Foot: $163

The key individuals in this transaction include Andy Jassy, representing Amazon as the buyer, and James G. Martell, who represented Logistics Property Company as the seller. JLL acted as the broker facilitating the deal. Logistics Property Company spent at least $205 million to develop this asset before its sale to Amazon.