25 Jan IDI Logistics Purchases 1.3MSF Warehouse in Chicago
IDI Logistics, a leading developer and manager of logistics real estate, has purchased SunGate Industrial Park at 5420 W. Roosevelt Road in the City of Chicago. The 1.3-million-square-foot industrial warehouse facility sits on 47.5 acres and is currently 90% occupied.
SunGate Park is adjacent to the Eisenhower Expressway/I-290 and is located 7 miles from Downtown Chicago. Approximately 850,000 people live within 5 miles of the property. The site is serviced by both the CTA train and bus systems.
“The scale of this park combined with the attractive local labor pool and immediate access onto I-290 via two (2) four-way interchanges make it an ideal site for tenants seeking to locate in the City of Chicago,” said Scott Gibbel, Chicago Market Officer for IDI Logistics. “A small number of industrial land sites of this size have been unlocked in the City of Chicago in the last decade. Executing this acquisition required IDIL’s unique mix of permanent capital, operating experience, and development expertise.”
David Haigh and Nick Feczko of NAI Hiffman brokered the sale of the property.