A team from Colliers, consisting of Jeff Devine, Steve Disse, and Tyler Ziebel, recently facilitated the sale of 716 E. 111th Street in Chicago on behalf of Ryan Companies. The buyer was an offshore investor advised by Metzler Real Estate.
The property is currently fully leased to Whole Foods Market and was constructed by Ryan in 2017. This state-of-the-art food-grade facility spans over 140,000 square feet and serves as a major distribution center for Whole Foods locations across the Midwest and Canada.
According to Vice Chair and Principal at Colliers, Jeff Devine stated that there is still a strong demand for high-quality properties located in prime areas like this one. He also mentioned that the industrial market in Chicago has balanced fundamentals which make it an attractive destination for capital investment as we enter into 2025.
This transaction marks the fifth successful deal closed by Colliers within just three months including another notable sale – a massive distribution facility spanning over 624 thousand square feet located at Ellis Dr., Joliet which was sold to Venture One.
