Chicago’s Top 10 Industrial Real Estate Property Sales

Top Chicago Industrial Real Estate Property Sales - Cawley Chicago

In the past year Chicago’s industrial real estate sector has seen over 1,150 properties exchange hands, with several warehouse properties of well over one million total square feet. Of the top sales, the average vacancy rate at the time of sale was around 10% (9.3%), and the average price per square foot at the time of sale is at an average of $68.

While many of the larger deals on the current list occurred prior to the pandemic, there are still many real estate deals going on in the Chicago area. Cawley Chicago pulls the Top 10 Industrial Property Sales regularly to give an idea of the commercial real estate properties arising in the area.

Key Stats for Chicago Industrial Property Sales

Sales Comparables: 1,166
Average Cap Rate: 8.6%
Average Price / SF: $68
Average Vacancy at Sale: 9.3%

Top 10 Industrial Property Sales in Chicago

1) Amazon Fulfillment Center – 3501 120th Pl

Rating: 5
Year Built: 2015
Building Square Feet: 1,015,740
Vacancy %: 0%
Sale Date: 06/30/2019
Price: $119,200,000
Price / SF: $117
Cap Rate: Not Listed

2) Rock Creek Logistics Center

Rating: 5
Year Built: 2018
Building Square Feet: 1,220,140
Vacancy %: 0%
Sale Date: 09/30/2020
Price: $87,500,000
Price / SF: $72
Cap Rate: 4.5%

3) 325 State Route 31

Rating: 3
Year Built: 1956
Building Square Feet: 4,000,000
Vacancy %: 0%
Sale Date: 03/6/2020
Price: $68,579,000
Price / SF: $17
Cap Rate: Not Listed

4) 11211 Burlington Rd

Rating: 5
Year Built: 2014
Building Square Feet: 513,976
Vacancy %: 0%
Sale Date: 06/30/2020
Price: $56,800,000
Price / SF: $111
Cap Rate: Not Listed

5) Fresenius Kabi USA

Rating: 5
Year Built: 2020
Building Square Feet: 590,525
Vacancy %: 0%
Sale Date: 08/6/2020
Price: $54,600,000
Price / SF: $92
Cap Rate: Not Listed

6) 2635 S Western Ave

Rating: 4
Year Built: 1968
Building Square Feet: 308,000
Vacancy %: 0%
Sale Date: 05/27/2019
Price: $54,500,000
Price / SF: $177
Cap Rate: Not Listed

7) Bailly Ridge 4 – 25101 S Ridgeland Ave

Rating: 3
Year Built: 2019
Building Square Feet: 879,040
Vacancy %: 100%
Sale Date: 11/16/2020
Price: $50,300,000
Price / SF: $57
Cap Rate: Not Listed

8) Prologis Romeoville – 901 W Bluff Rd

Rating: 5
Year Built: 2019
Building Square Feet: 879,040
Vacancy %: 100%
Sale Date: 07/21/2020
Price: $50,273,343
Price / SF: $73
Cap Rate: Not Listed

9) Prologis Romeoville – 1001 W Bluff Rd

Rating: 5
Year Built: 2019
Building Square Feet: 657,540
Vacancy %: 100%
Sale Date: 07/21/2020
Price: $47,728,267
Price / SF: $73
Cap Rate: Not Listed

10) Brewster Creek Business Center – 1323 Brewster Creek Blvd

Rating: 5
Year Built: 2017
Building Square Feet: 421,354
Vacancy %: 0%
Sale Date: 10/02/2020
Price: $47,000,000
Price / SF: $112
Cap Rate: Not Listed

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