IOV, a leading industrial real estate company, has acquired a 10-acre service center in Channahon. The property is located at 24251-24311 Riverside Drive and consists of four grade-level equipment maintenance facilities spanning approximately 15,000 square feet each. The terms of the transaction were not disclosed.
The newly acquired property is currently leased to six tenants on short-term agreements. In addition to the acquisition, IOV has appointed Cawley Commercial’s leasing team as exclusive representatives for the Riverside Drive facility. Patrick Stanton from Patrick Commercial represented the seller in this deal.
This marks IOV’s second asset in Channahon and its fifth overall in Chicago. One notable holding is Trumpet Park phase one in Zion which spans nine acres and includes an 11,440-square-foot maintenance and service facility that is available for lease through Colliers’ Chris Volkert, Ned Frank, and Jeff Devine.
