Brown Commercial featured in Bisnow real estate review
May 24, 2024 — A commercial real estate review of Chicago activity highlights a recent 42,525-square-foot industrial sale by Brown Commercial Group’s Matt Hanson. Hanson negotiated this off market industrial investment transaction and brought together the seller and buyer. The building sold for $3.1 million.
The industrial/flex property is fully leased and located at 135 E. St. Charles Road in Carol Stream, IL. The buyer and seller were both private investors. “This transaction shows the continued strength of the DuPage County industrial market, which provides many locational and tax advantages for Chicago area investors and businesses,” said Hanson. “There is a limited amount of smaller industrial space on the market and we were able to leverage our market contacts to bring this deal to completion.”
The building is located in the coveted DuPage County industrial market, one of the top industrial markets in the Chicago region. The submarket is west of downtown Chicago and offers tenants a low tax structure, a large concentration of industrial parks and a location near major transportation routes. The submarket has a 4% vacancy rate and recorded a 5.9% rent growth rate over the past quarter, with logistics properties reaching 7.1%, according to CoStar.
See this Bisnow story for more on their Chicago commercial real estate review.
