TradeLane Properties Acquires Prime Infill Two-Story Last Mile Industrial Facility in Chicago, IL
TradeLane Properties, through its Chicago focused value-add industrial platform, TradeLane Properties Fund I, has acquired 325 N. Ashland Avenue in Chicago, located in the Kinzie Industrial Corridor/West Fulton Market. This acquisition represents the sixth building that TradeLane has acquired in 2020.
This stand alone, two-story concrete loft warehouse totals 80,000 SF (40,000 SF/floor) and includes an additional 45 spot surface parking lot. As part of its investment strategy, TradeLane Properties will redevelop the facility to include a new window system, LED lighting, roof replacement, remodeled interior office and warehouse updates.
The building, zoned PMD-4 is divisible to ±20,000 SF units with six (6) shared interior docks, a 12,000 lb. freight elevator and 1,600 Amps of power. The facility is ideally suited for:
- Light Manufacturing
- Data Center
- Last Mile Distribution
- Life Sciences
- Healthcare Services and Inventory
The building is adjacent to the Chicago Central Business District offering access to an immense urban labor pool via:
- One block to the CTA Green Line Station at Lake Street
- One Mile to I-290 (Eisenhower Expressway)
- One Mile to I-94 (Kennedy Expressway)
- One Mile to the Loop
TradeLane Properties would like to thank Tom Condon, SIOR and Sean Austin of Lee & Associates, Wintrust Commercial Bank and Greenberg Traurig LLP for their assistance in this transaction.
About TradeLane Properties
TradeLane Properties is a privately held Industrial real estate company committed to harnessing its founders’ expertise in acquiring, developing, redeveloping and operating industrial real estate facilities. Combining 75 years of experience, two publicly traded industrial REIT’s and decades of extensive value creation for shareholders, employees and customers, the TradeLane Properties founders have a proven track record of success. For more information, visit www.tradelaneproperties.com or call Kari Lavezzi at (630) 320-5501.