Updated Jun 3, 2026
Shervin Mateen Of Cannon Industrial Acquires Five-Building Industrial Portfolio In Chicago For $70M
3700 South Kedzie Avenue
$70,000,000
Building Size
—
Asset Type
Industrial
Closing
Jun 2, 2026
About this deal
AI
A five-building industrial portfolio located at 3700 and 3200 South Kedzie Avenue, 4400 West 25th Place, 1351 Wheeling Road, and 1900 25th Avenue in the Chicago area has been sold for $70 million. The portfolio spans multiple locations including Chicago, Wheeling, and Broadview, IL, as part of a strong industrial market presence where vacancy rates have improved to 5.9% despite a significant increase in new supply.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $70,000,000
- Buyer: Shervin Mateen - Cannon Industrial
- Seller: Jon Winkelried - TPG Angelo Gordon
- Market: Chicago, Wheeling & Broadview, IL
This transaction exemplifies active investment behavior in the Chicago area, facilitated by Shervin Mateen representing Cannon Industrial, and Jon Winkelried representing TPG Angelo Gordon in the sale of this substantial portfolio.
On the Map
$70,000,000
Industrial
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Players
Canton Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.23%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93