MPI Announces Sealed Bid Auction of 186,806 SF Industrial Complex

Millennium Properties R/E announced that it will be selling a 186,806 square foot industrial complex located in Chicago through a sealed bid auction. The 20.6 acre site is divided into four properties which are available individually or as a portfolio.

The improvements include a 76,828 square foot manufacturing and warehouse building features an average of 17’ clear heights, nine dock doors and three drive-in doors and a 2,000 square foot office. Serving as the previous tenant’s headquarters, two buildings totaling 98,905 square feet feature a 5,000 square foot office, a large manufacturing area, a substantial warehouse and room for future expansion. Previously used for trailer storage, an 8.2 acre land site is graded and ready for development. A 10,375 square foot single-tenant flex industrial building with three dock doors is also available. All four of the properties feature secured parking and are a short drive from an intermodal rail yard and the highway.

“Located a short distance from I-94 and I-55, these properties are a great opportunity for users or investors looking for an infill manufacturing or warehousing site,” said Daniel J. Hyman, president of Millennium Properties. “Prices start as low as $6.75 per square foot and bidders have the option of purchasing one of these properties or they can purchase the whole portfolio. Opportunities like this are becoming rare due to the industrial market’s significant improvement and growth.”

“We will be hosting a number of property tours of the site in the coming weeks and all offers for these properties will be due on October 16th,” said Greg Block, executive vice president of Millennium Properties.