$11.5M sale of rare flex retail and industrial space in the Chicago MSA closes

CHICAGO, June 6, 2023 – JLL Capital Markets announced today that it has closed the $11.5 million sale of 3450 West Touhy Ave., a 123,519-square-foot flex retail and industrial property located within the Chicago MSA in Skokie, Illinois.

JLL marketed the loan on behalf of the seller, CenterPoint Properties Trust, and Skokie-based Bernard Capital Investment Partners acquired the asset.

Built in 1976 and renovated in 2013, the 100-percent-occupied center is currently anchored by an XSport Fitness. It is the most trafficked fitness center in a five-mile radius and has received approximately 866K visitors in the last 12 months. The two industrial tenants include Skokie Cash & Carry and Howard Packaging, and the spaces offer a total of three interior docks and four drive-in doors. The asset also features an 84-space parking garage with 30-foot clear heights.

Situated four miles from I-94, the property is exposed to an average traffic count of 20,000 vehicles per day. The property is just 10 miles from Chicago and nine miles from O’Hare International Airport. Additionally, within a three-mile radius is a population of 320,378 and an average household income of $109,589.

The JLL Capital Markets Investment Sales Advisory team was led by Director Michael Nieder.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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