CAROL STREAM, ILL. — Brown Commercial Group negotiated a 50,632-square-foot Chicago building sale to bring an automotive industry business to Chicago’s western suburbs. IP Automation Inc. purchased the facility at 400 E. Fullerton Ave. in Carol Stream, IL for its new headquarters. The company plans to relocate from its existing location in Downers Grove, IL this year.
Brown Commercial Group Partner Mike Antonelli, SIOR, represented the buyer as part of a two-year site selection and market analysis that included evaluating existing buildings as well as new construction opportunities throughout the Chicago market. “We faced challenging market conditions given the shortage of mid-sized space that is suitable for high-end manufacturing,” said Antonelli. “By leveraging our strong market connections, we identified this property which had the required manufacturing infrastructure to support our client’s operational needs.”
The buyer was one of several bidders on the property and was able to close by year-end 2024, which helped secure the deal. The Carol Stream facility also included a larger office space build out and existing power supply to support the company’s operational needs. The seller was represented in the transaction by Savills.
Chicago’s industrial market is seeing consistent absorption, minimal supply-side pressure, and minimal turnover, according to CoStar. These factors are keeping Chicago’s industrial market in demand. There is a low inventory of assets for sale, however, which is holding back activity. Owners have been hesitant to sell their investments amid market uncertainty, opting instead to hold onto the stable and appreciating cash flow. Yet, with more than $392.5 million of Chicago’s industrial loans maturing during the fourth quarter of 2025 alone, there should be a contingent of sellers motivated to sell their existing assets and possibly recycle their capital gains through 1031 exchanges.
