(To read more on the industrial market, click here.)

CHICAGO-Centrum Properties has purchased three industrial properties, built between 1989 and 1992, from an affiliate of GE Commercial Finance. Terms of the sale of Bradley Place Business Center were not disclosed, says U.S. Equities, which represented the seller.

The 152,000-sf complex, at 2630 W. Bradley Place, sits on nearly nine acres of land along the north branch of the Chicago River in the Addison Industrial Corridor. The property was marketed for continued use as an industrial facility, but with the possibility of a site redevelopment for a different use, according to a U.S. Equities statement. The company could not be reached for comment.

According to Colliers Bennett & Kahnweiler Inc., the average asking price for industrial property in the Chicago North area is $53.54 per sf, with an average lease rate of $6.04, one of the highest rates in the region.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.