Marcus & Millichap, a leading commercial real estate brokerage firm, recently facilitated the sale of an industrial warehouse property located at 570 Progress Ave. in Munster, Indiana. The 16,000-square-foot property was sold for $2.75 million.
According to Clayton Isacson, associate at Marcus & Millichap: “We were able to quickly move this transaction from listing to under contract in just 21 days and close at 95 percent of our pricing guidance.” This highlights the strong demand for industrial assets in the Chicagoland area and showcases an out-of-market investor taking advantage of opportunities to expand their market share.
The property was marketed by investment specialists Isacson along with Tyler Sharp and Adam Abushagur from Marcus & Millichap’s Chicago and Austin offices on behalf of seller American Machine Works Inc. Josh Caruana also played a role as Broker of Record in Indiana during the closing process.
Sitting on approximately 1.03 acres of land, this vacant single-tenant asset features around 16
