Grubb & Ellis Realty Investors LLC has acquired a two-building portfolio in Carpentersville and Northlake, Ill., on behalf of a private investor participating in the Grubb & Ellis Wealth Management program.
The value of the acquisition was not disclosed.
Both properties are 100 percent leased to JPMorgan Chase.
Located at 21 S. Western Ave. the Carpentersville property has approximately 4,400 leasable square feet and is situated on one acre of land. The single-tenant property is in the Spring Hill Mall Regional Trade Zone and in front of a Home Depot. To the south lies the 1.1 million-square-foot Spring Hill Mall, featuring more than 150 department stores and specialty shops.
Located at 100 W. North Ave. in Northlake, the second building has nearly 3,850 square feet of leasable area. Built in 2007, the single-tenant site is situated on approximately 24,000 square feet of land. Chase Bank Northlake is directly across the street from various shopping outlets, including Home Depot, Office Depot and Wal-Mart.
Both Chase Bank properties were acquired from Bradford Real Estate Companies, represented by Tom May of May Center Advisors.
What’s your opinion? Leave your comments below or send a
letter to the editor.