Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 1535 to 1555 Brummel Avenue in Elk Grove Village, Illinois. The subject property consists of approximately 10,000 square feet of space and is situated on 0.53 acres of land. The asset features a clear height of 14’, two dock-high doors, and two grade-level doors. With two separate entrances divided by the dock-high doors, the property can easily be converted back to two 5,000 square foot units. Major highways such as Interstate 90 are located nearby, making the property a strategically located asset. The property is primely situated within O’Hare, a tough barrier-to-entry submarket. Thanks to O’Hare International Airport’s standing as one of the busiest in the world for cargo traffic, the O’Hare submarket ranks as one of the most in-demand industrial submarkets in the Chicago area. In 2021, net absorption in O’Hare posted its biggest year on record with 5.1 million square feet, more than doubling the previous high set in 2013. While net deliveries have also been robust over the last two years, the additional industrial space substantially lags demand. As a result, the vacancy rate has dropped to a historically low of 3.0 percent during Q1 2022. Likewise, industrial rents are up a record 7.4 percent annually. Industrial sales in O’Hare have enjoyed another banner year in 2021 with volume totaling $766 million, representing a new all-time high and about 88 percent higher than the 10-year annual average (CoStar). Known as the Greater Chicagoland area, Chicago-Naperville-Elgin is the third-largest metro in the nation. The metro houses 9.5 million people, including 2.7 million residents within the city of Chicago. The number of corporate headquarters in Chicago is second only to New York City and is home to 33 Fortune 500 companies. Thanks to eight commercial and passenger rail lines, the Port of Chicago, three international airports, and a vast network of freeways, Chicago is a major distribution and logistics hub. The local economy and workforce are highly diverse, supported largely by distribution, finance, manufacturing, and high-tech industries. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 50 wards, and eight major league sports teams, including two Major League Baseball teams. Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing affordable housing in attractive and economically sound communities, ensuring accessibility for all, and fostering, social, economic, and environmental sustainability (Chicago.gov).