Pershing Industrial 6 Industrial Properties Offered at $25,000,000 in Chicago, IL

INVESTMENT HIGHLIGHTS

  • TIF District – 35th/Halsted – Pershing Road Subarea
  • ?Ranked "hottest affordable neighborhood" in the country in 2019 by Redfin.
  • McKinley Park 70-acre name-sake public park across the street
  • Listed Zone 2 in Chicago’s Enterprise Zone Program
  • 0.5 miles to Orange Line at 35th/Archer
  • Fully Sprinklered

EXECUTIVE SUMMARY

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.

DATA ROOM Click Here to Access

PROPERTY FACTS

Price $25,000,000
Price / SF $21.56 / SF
Sale Type Investment or Owner User
Status Active
Number of Properties 6
Individually For Sale 0
Total Building Size 1,159,716 SF
Total Land Area 48.91 AC

PROPERTIES

PROPERTY NAME / ADDRESS PROPERTY TYPE SIZE YEAR BUILT INDIVIDUAL PRICE
Bldg B
1965 W Pershing Rd, Chicago, IL 60609
Industrial 180,432 SF 1907 -
Bldg D
1965 W Pershing Rd, Chicago, IL 60609
Industrial 184,278 SF 1907 -
Bldg F
1965 W Pershing Rd, Chicago, IL 60609
Industrial 202,900 SF 1907 -
Bldg E
1965 W Pershing Rd, Chicago, IL 60609
Industrial 202,900 SF 1907 -
Bldg A
1965 W Pershing Rd, Chicago, IL 60609
Industrial 187,000 SF 1907 -
Bldg C
1965 W Pershing Rd, Chicago, IL 60609
Industrial 202,206 SF 1907 -
Show More > < Show Less
  • Listing ID: 22342176

  • Date on Market: 2/26/2021

  • Last Updated:

  • Address: Pershing Industrial, Chicago, IL