EverWest Real Estate Partners, in partnership with Dayton Street Partnership and on behalf of a discretionary separate account with an institutional investor, is pleased to announce the acquisition of 4150 N. Knox Avenue, the site for a to-be-built 40,700 square foot, Class A industrial building, situated on 1.6 acres.
The building will feature all of the state-of-the-art features of new concrete tilt-up construction: 30' clear height; ESFR; 55' by 55' bay spacing; 4 dock-high loading doors; LED lighting and ample power. The building will be designed to accommodate either a full building user or multi- tenancy.
The property is located off of W. Montrose Avenue and 1/4 mile from I-90/I-94 Expressway entrances. Situated in the Portage Park section of Chicago, the property is two blocks from the Chicago Transit Authority light rail and Metra commuter rail stations. The site is approximately 8 miles to Chicago's downtown Loop area and 7 miles to O'Hare International Airport. This is a true infill site that offers an ideal location and rare new state-of-the-art space for "last mile" industrial distribution tenants to service downtown Chicago.
Tom Karbowski, Managing Principal, comments, "This is our second transaction with Dayton Street Partners focused on in-fill distribution properties in Chicago and we trust that this will not be our last. The fundamentals for these properties remain strong including low vacancy rates, increasing rental rates and high barriers to entry."