“6 Industrial Properties Offered at $25,000,000 in Chicago, IL
“1965 W Pershing Rd; Bldg A, Bldg B, Bldg C, Bldg D, Bldg E, Bldg F
“Imperial Realty is pleased to present for sale a multi-family redevelopment opportunity in the McKinley Park neighborhood of Chicago, which was ranked the “hottest affordable neighborhood” in the country by Redfin in 2019.
The Property is currently a well-maintained 1.3 million square foot industrial and warehouse property consisting of six(6) connected buildings, located in a TIF District & Enterprise Zone on 10.90 acres at 1965 W Pershing Rd.
“Constructed in 1918, the Property is 30% occupied by nearly 300 small tenants, with six(6) six-story buildings connected by tunnels for trucking and track space.
“Situated within a short distance from multiple major interstates and railroads, the fully sprinklered.
“Property benefits significantly from it’s convenient location in McKinley Park. The logistic-convenient and commuter-friendly Property is adjacent to the 70 acre McKinley Park Community Area (2210 W Pershing Road), featuring swimming pools, turf soccer fields, baseball fields, basketball courts, seasonal ice skating, playground areas, a gymnastics center, and the National Latino Education Institute.
“Immediately west on the adjacent property line is a major 500,000 sqft mixed-use redevelopment currently underway that’s converting the existing 500,000 sqft warehouse building into light manufacturing, warehouse and office, bringing a larger workforce daytime population, and thus higher demand and aggregated spending power to the immediate area.
“With over 1.3M SF sitting on 10.90 acres of TIF-district-land in a rapidly growing neighborhood with high residential demand, this investment represents an exceptional opportunity to acquire an extremely well-located existing industrial-warehouse property with tremendous value-add and multi-family redevelopment potential.” ( LoopNet)