Midwest Industrial Funds Acquires 117,000 SF Building

Midwest Industrial Funds Acquires 117,000 SF Building

Midwest Industrial Funds announced the recent acquisition of 800 N. Church Street in Lake Zurich, Illinois.  An entity affiliated with Midwest Industrial purchased the fully leased 117,000 square-foot industrial facility from a private investor.

The deal comes just months after Midwest Industrial Funds announced the company raised a new real estate investment fund, MIF Value Fund II LP, to purchase over $150 million worth of industrial properties over the next few years. The new fund targets 50,000 square-foot and larger single, multi-tenant, value-add and stabilized industrial properties, primarily in the greater Chicagoland markets including Southeast Wisconsin and Northwest Indiana.

JLL’s Steve Trapp, Senior Vice President, and Steve Steinmeyer, Senior Managing Director, represented Midwest Industrial in the transaction. Nick Panarese, Vice President, Van Vlissingen and Co. represented the Seller.

“Given the building’s versatile features, it can work well for both distribution and manufacturing type uses.  Couple that with the mature, high end business park setting as well as the access to Lake County’s outstanding labor pool and this facility should prove to be an excellent long-term investment for Midwest Industrial,” said Trapp.

The modern industrial facility is on an oversized 9.9-acre site and features 24’ clear ceilings, 6,000 amps of power, 275+ car parking, high intensity T-8 warehouse lighting, fully air-conditioned warehouse space and eight docks.  The property also includes nearly 19,000 square of office space and has extra land for potential building or parking expansion.