Colliers Brokers Two Chicago Area Investment Sales Deals

ROSEMONT, IL—A major industrial property in West Chicago and a headquarters office building in Woodridge, IL totaling more than 510,000 square feet have changed hands in deals brokered by Colliers International.

Boston-based Plymouth Industrial REIT has acquired 1717 West Harvester Road, a 465,940-square-foot industrial facility in West Chicago from a large institutional investor. The distribution facility is located on 30.5 acres, features 25’ clear height, 145-car parking stalls, 23 loading docks, four drive-in doors and is rail served. The building is 100% leased to two tenants. No financial terms of the transaction were disclosed.

Colliers International | Chicago’s Jeff Devine and Steve Disse represented the seller in that deal, as well as Peerless of America in the sale of 7325 Janes Ave. in Woodridge to Rosemont, IL- based Missner Group.

7325 Janes Ave. is a 44,096-square-foot single-story office asset that has served as the longtime headquarters for civil engineering/contracting firm V3 Companies. The building was renovated in 2018 for V3 and the firm continues to occupy the building on a long-term lease. No financial terms of that transaction were disclosed.

“Pricing of Class A properties in the Chicago area has pushed both investors and tenants to consider the value proposition of pursuing functional, second generation assets such as the Harvester building” says Colliers’ Devine. “We’re seeing more investors and tenants attracted to this area who previously would have overlooked it.”