**Avison Young Arranges $9.4M Sale of Chicago Industrial Property**
Avison Young has completed the sale of an industrial infill property located at 455 E. North Avenue in Chicago’s Central DuPage submarket. The 110,000-square-foot facility, currently occupied by Pregis Corporation, was sold on behalf of Danco Properties, LLC to a private buyer for $9.4 million.
The transaction was brokered by Avison Young’s Industrial Capital Markets team, including Principals Erik Foster, Mike Wilson, and Chris Lydon, SIOR. “Central DuPage is one of the tightest industrial submarkets in the U.S., and with the property’s 3.10% vacancy rate, this facility was on the radar of both investors and users alike,” said Wilson. “This is a uniquely positioned asset for a user given its 100,000-plus square footage, accessibility and visibility to North Avenue, and above-average power supply.”
Avison Young reports that investor and developer interest in infill development across Chicago remains strong. Urban submarkets, which are often constrained by aging building stock and limited available land, have seen heightened demand. The firm also notes a shift in the local industrial development pipeline, where build-to-suit projects have grown from 30% of total activity in the previous year to 57%.
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