Extra Space Storage 2 Property Portfolio 2 Specialty Properties in Chicago, IL
INVESTMENT HIGHLIGHTS
- Achieving Strong Rents: $1.97/sf Per Month
- Positioned for Continued Growth: No New Development (Permitted & Under Construction) in a 5-Mile Radius
- Dense In-Fill Sites: 272,535 Avg. Population within a 3-Mile Radius of the Facilities
- Historically High Occupancy: 95.2% Portfolio Average in the Past Twelve Months
- Strong Household Income: $113,806 Avg. Household Income (3-Mile Radius)
EXECUTIVE SUMMARY
VIEW OFFERING MEMORANDUM AND DUE DILIGENCE:https://selfstorageadvisory.com/properties/extra-space-storage-2-property-portfolio/
The Chicago Portfolio, with a combined 1,495 units across 114,081 net rentable square feet of interior climate-controlled storage space, presents a compelling investment opportunity due to the city’s unique market dynamics. Chicago’s dense urban population, diverse demographics, and high concentration of renters create consistent demand for self-storage, particularly for climate-controlled units suited to the city’s variable weather conditions. The properties’ on-site amenities—extended access hours, moving carts, covered and heated loading bays, package acceptance, and an on-site office—enhance tenant convenience and satisfaction, fostering high occupancy rates and customer retention. Chicago’s robust real estate market, coupled with limited available land for new development, supports strong rental rate growth and property value appreciation. Additionally, the facilities’ strategic locations within the city provide easy access for residents and businesses, capitalizing on Chicago’s role as a major transportation and logistics hub. These factors, combined with the portfolio’s modern infrastructure, position it as a low-maintenance, high-yield asset in a competitive market.
The Chicago-Naperville-Elgin, IL-IN-WI metropolitan area, or Chicagoland, is a cornerstone of the U.S. economy, ranking third among metro areas and driven by powerhouse industries such as transportation, logistics, finance, and manufacturing. Anchored by world-class infrastructure, including O’Hare International Airport, extensive rail networks, and the Chicago Mercantile Exchange, Chicagoland supports a diverse talent pool and hosts major corporate headquarters like McDonald’s, Walgreens, and Boeing. The region’s economic resilience is underscored by its consistent ranking as the top U.S. metro for corporate relocations for ten consecutive years, fueled by initiatives like the Greater Chicagoland Economic Partnership, which promotes regional collaboration and investment. Significant developments, such as the 1901 Project—a transformative mixed-use development near the United Center featuring residential units, parks, hotels, and entertainment venues—and the 78, a 62-acre innovation district, are reshaping Chicago’s landscape, attracting tech firms, research institutions, and new residents. These projects, alongside ongoing investments in public transit and sustainability, enhance Chicagoland’s economic vitality, ensuring sustained demand for commercial and residential services, including self-storage, as the region continues to grow and innovate.
Broker of Record
John Saletta/CBRE, INC.
IL Lic. 475.207064
The Chicago Portfolio, with a combined 1,495 units across 114,081 net rentable square feet of interior climate-controlled storage space, presents a compelling investment opportunity due to the city’s unique market dynamics. Chicago’s dense urban population, diverse demographics, and high concentration of renters create consistent demand for self-storage, particularly for climate-controlled units suited to the city’s variable weather conditions. The properties’ on-site amenities—extended access hours, moving carts, covered and heated loading bays, package acceptance, and an on-site office—enhance tenant convenience and satisfaction, fostering high occupancy rates and customer retention. Chicago’s robust real estate market, coupled with limited available land for new development, supports strong rental rate growth and property value appreciation. Additionally, the facilities’ strategic locations within the city provide easy access for residents and businesses, capitalizing on Chicago’s role as a major transportation and logistics hub. These factors, combined with the portfolio’s modern infrastructure, position it as a low-maintenance, high-yield asset in a competitive market.
The Chicago-Naperville-Elgin, IL-IN-WI metropolitan area, or Chicagoland, is a cornerstone of the U.S. economy, ranking third among metro areas and driven by powerhouse industries such as transportation, logistics, finance, and manufacturing. Anchored by world-class infrastructure, including O’Hare International Airport, extensive rail networks, and the Chicago Mercantile Exchange, Chicagoland supports a diverse talent pool and hosts major corporate headquarters like McDonald’s, Walgreens, and Boeing. The region’s economic resilience is underscored by its consistent ranking as the top U.S. metro for corporate relocations for ten consecutive years, fueled by initiatives like the Greater Chicagoland Economic Partnership, which promotes regional collaboration and investment. Significant developments, such as the 1901 Project—a transformative mixed-use development near the United Center featuring residential units, parks, hotels, and entertainment venues—and the 78, a 62-acre innovation district, are reshaping Chicago’s landscape, attracting tech firms, research institutions, and new residents. These projects, alongside ongoing investments in public transit and sustainability, enhance Chicagoland’s economic vitality, ensuring sustained demand for commercial and residential services, including self-storage, as the region continues to grow and innovate.
Broker of Record
John Saletta/CBRE, INC.
IL Lic. 475.207064
PROPERTY FACTS
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 114,081 SF |
| Total Land Area | 1.50 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Extra Space Storage
6341 N McCormick Rd, Chicago, IL 60659 |
Specialty | 65,274 SF | 2018 | - |
|
Extra Space Storage
3914 W 111th St, Chicago, IL 60655 |
Specialty | 48,807 SF | 2017 | - |
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