- July 9, 2021
- Posted by: Stratford Team
- Category: Business
It’s a rare listing of a large industrial site in an affluent, densely populated part of the city, the type of property industrial real estate investors have salivated over—particularly during the COVID-19 pandemic—amid soaring demand for warehouse space to store and distribute products people buy online. Industrial giant Prologis in March paid nearly $100 million for a 339,000-square-foot warehouse and office building at 930 W. Evergreen Ave. on Goose Island.
Like that property, Bradley Business Center is flush with tenants at almost 96 percent leased, according to a Cushman marketing flyer, with users including RCN of Chicago, several medical offices and a mix of recreational businesses such as IK Gymnastics, Windy City Ninjas and Goldfish Swim School.
The 466,871 square feet of buildings on the property collectively generate $5.9 million in annual net operating income, according to the flyer. A sale north of $220 per square foot would tower…