The three-story building sits on less than an acre at the corner of Cermak Road and South Halsted Street. The facility offers 16-foot clear ceilings, two freight elevators and an additional 20,000 square feet of space in the basement. The sales price was not disclosed on this deal, which is reportedly the first industrial building sale to close this year in the city of Chicago.
The property is located in the southern Chicago submarket, where overall occupancy is around 94%, according to Cushman & Wakefield's Q1 industrial market report. Asking lease rates in the submarket range from $3 to $7 per square foot net, according to Cushman's research.
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