The two-property self-storage portfolio located in Chicago, Illinois has been successfully sold by Marcus & Millichap. The portfolio consists of Honore Storage facilities situated at 3215 W. Lawrence Avenue and 5145 N. Clark Street in the city of Chicago.
One of the properties, located on Lawrence Avenue, boasts a total of 408 units – with a mix of both climate-controlled and non-climate-controlled units – covering an area measuring up to 26,951 square feet for rent purposes. On the other hand, the Clark Street facility comprises a total area measuring up to 23,907 square feet for rent purposes; this includes a combination of both climate-controlled (108) and non-climate controlled (239) storage units.
According to Jeffrey Herrmann – first vice president at Investments- this transaction highlights how potential risks can create opportunities for new managers while also showcasing substantial ECRI potential within undersupplied areas across Chicago’s MSA region. Both Herrmann and Sean Delaney were responsible for exclusively listing these properties on behalf of their seller Honore Holdings; they were able to secure Storage Post as the buyer.
Storage Post released an official statement stating that it is proud to have entered into Midwest market through its acquisition deal involving five premium self-storage facilities strategically positioned throughout Chicagoland; this move will allow them offer top-notch services within one America’s busiest cities according Connect CRE.
