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 1,400 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%, and the average price per square foot at the time of sale is at an average of $72.

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: 1,481
Average Cap Rate: 8.8%
Average Price / SF: $72
Average Vacancy at Sale: 9.7%

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) 2400 Dralle Rd

Rating: 5
Year Built: 2011
Building Square Feet: 1,350,000
Vacancy %: 0%
Sale Date: 11/11/2019
Price: $73,150,000
Price / SF: $54
Cap Rate: Not Listed

3) Building 1 – 2357 S Wood St

Rating: 5
Year Built: 2017
Building Square Feet: 227,043
Vacancy %: 0%
Sale Date: 08/19/2019
Price: $68,683,000
Price / SF: $303
Cap Rate: Not Listed

4) 325 S Route 31

Rating: 3
Year Built: 1956
Building Square Feet: 4,000,000
Vacancy %: 0%
Sale Date: 03/06/2019
Price: $68,579,000
Price / SF: $17
Cap Rate: Not Listed

5) 11211 Burlington Rd

Rating: 5
Year Built: 2014
Building Square Feet: 513,976
Vacancy %: 0%
Sale Date: 06/30/2019
Price: $56,800,000
Price / SF: $111
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) 1460 Cargo Ct

Rating: 5
Year Built: 2019
Building Square Feet: 705,661
Vacancy %: 0%
Sale Date: 01/02/2020
Price: $53,642,000
Price / SF: $76
Cap Rate: 7.7%

8) FedEx Distribution Center – 3000 S Damen Ave

Rating: 4
Year Built: 2016
Building Square Feet: 219,858
Vacancy %: 0%
Sale Date: 08/30/2019
Price: $51,800,000
Price / SF: $236
Cap Rate: Not Listed

9) Bridge Point Franklin Park – 10701 Franklin Ave

Rating: 5
Year Built: 2019
Building Square Feet: 287,417
Vacancy %: 67.7%
Sale Date: 10/31/2019
Price: $47,326,945
Price / SF: $165
Cap Rate: Not Listed

10) Amazon Distribution Center – 201 Emerald Rd

Rating: 5
Year Built: 2016
Building Square Feet: 746,772
Vacancy %: 0%
Sale Date: 09/26/2019
Price: $46,001,721
Price / SF: $62
Cap Rate: Not Listed

Chicago’s Top 10 Industrial Projects Currently Under Construction
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