West Loop Self-Storage Assets Trade for $14M
- May 24, 2017
SVN Chicago Commercial brokered the sale of three buildings in Chicago’s West Loop. The properties totaling 60,000 square feet traded for $13.5 million. Chad Schroedl, Drew Dillon and Scott Maesel of SVN arranged the deal.
Located at 1230-1242 W Washington Blvd., the buildings are occupied by storage provider Extra Space. According to the company’s website, the West Loop facility offers climate-controlled storage, covered parking for visitors, loading dock, elevator access to upper-level units, electronic gate access and video surveillance.
The properties are situated near several popular residential communities, dining options such as Lou Malnati’s Pizzeria and the W. E. O’Neil Construction Co. headquarters.
“While the West Loop has already seen incredible growth, this transaction demonstrates the increased interest on Washington Street in light of new developments, including McDonald’s new world headquarters, the proposed Hyatt hotel and numerous residential projects,” SVN Chicago Managing Director Scott Maesel said in a prepared statement.
Image courtesy of SVN