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Michael Arougheti Of Ares Real Estate Acquires O'Hare Logistics Center For $48.3M In Mount Prospect

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SOLD
$48,300,000

Illinois

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Industrial190,606 SF
Sold 06/03/2026
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SOLD

Michael Arougheti Of Ares Real Estate Acquires O'Hare Logistics Center For $48.3M In Mount Prospect

1305 E Algonquin Rd

See Similar Deals
Industrial190,606 SF
Sold 06/03/2026
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$253
Total Square Footage:190,606 SF
Transaction Type:Sale

The industrial asset located at 1305 East Algonquin Road in Mount Prospect, IL, encompasses 13 acres and features a total square footage of 190,606. The property was purchased at a transaction price of $48,300,000, equating to a price per square foot of $253.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $48,300,000
  • Acres: 13
  • Square Footage: 190,606
  • Price per Square Foot: $253
  • Buyer: Michael Arougheti - Ares Real Estate
  • Seller: Greg Herren - Seefried Industrial Properties

Ares Management's acquisition of the O'Hare Logistics Center 16 enhances its strategic foothold in the industrial sector. The facility is fully leased and is anchored by Accelerated Global Solutions, located near Chicago O'Hare International Airport. This transaction is part of Ares' broader industrial expansion initiative, which includes several substantial portfolio acquisitions in 2026.

Players

Michael Arougheti
Michael Arougheti
34 deals$6.1B volume
BUYER
Seefried Industrial Properties
Seefried Industrial Properties
SELLER

Details

SOLD
IMAGE: Michael Arougheti & Greg Herren DATE: 06/03/2026 ADDRESS: 1305 East Algonquin Road MARKET: Mount Prospect, IL ASSET TYPE: Industrial - ACRES: 13 BUYER: Michael Arougheti - Ares Real Estate SELLER: Greg Herren - Seefried Industrial Properties (@SeefriedIndustrialProperties) SALE PRICE: $48,300,000 SF: 190,606 - PPSF: $253 NOTE: Ares Management acquired the 190,606-square-foot O’Hare Logistics Center 16 in Mount Prospect, Illinois, from Seefried Industrial Properties for $48.3 million, with the fully leased facility anchored by Accelerated Global Solutions near Chicago O’Hare International Airport.The deal adds to Ares’ aggressive industrial expansion strategy following multiple large portfolio acquisitions and REIT privatizations across the U.S. industrial market in 2026.

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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)-$171,599.70
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