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

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.