CHICAGO—A local LLC investor has purchased the 23,400 square foot net-leased building at 1735 W. Carroll in Chicago’s Kinzie Corridor for an undisclosed amount.
The current tenant in the industrial warehouse building is US Adhesives, which occupies 100 percent of the facility. The building is located within an Enterprise and Empowerment Zone.
Mark Nelson and Michael Nelson with locally based NelsonHill represented the property seller, HTTM Co., in the transaction, and the buyer was not represented. “The acquisition represented a 13 percent cap rate for the buyer and offers excellent future redevelopment potential,” says Michael Nelson in a statement.