The building, which was constructed in 1954, is now about 40% leased, with 326,000 square feet available to lease at asking lease rates around $5 per square foot, gross, according to CBRE. The property, within the CenterPoint Business Center, offers warehouse space with over-sized bays and 20-foot clear ceilings, as well as several hundred parking spaces and heavy trailer parking. About 19 acres of the 54-acre site remain available, allowing for tenant expansion needs or excess car and trailer parking, or a new build-to-suit.
The property, which is minutes from an Interstate 94 interchange and has Skokie Highway/Route 41 exposure, is about 35 miles north of Chicago in Lake County. Asking lease rates in the Lake County submarket ranged from about $6 to $11 per square foot, according to Cushman & Wakefield market research, with an overall vacancy rate around 93% that quarter.
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