Clear Height Properties/Blackbird Investment Group Announce Sale of 112,000 SF Facility in Elk Grove Village, Illinois
OAK BROOK, IL (June 3 2022) – A joint venture partnership between Oak Brook, IL-based real estate investor Clear Height Properties and Chicago, IL-based Blackbird Investment Group has sold 1250-1350 Greenleaf Avenue in Elk Grove Village, IL. The 112,000 square-foot industrial building is fully leased to Brett Anthony Foods.
Michael Caprile, Zach Graham, Jason Lev and Ryan Bain of CBRE represented Clear Height. The building was acquired by an institutional investor. The purchase price was not disclosed.
The sale of the Greenleaf asset is the culmination of a nearly four-year effort to create a state-of-the-art facility that would allow Brett Anthony Foods room to grow.
Clear Height’s Project and Development Services team began strategic planning with Brett Anthony Foods in early 2018. In Fall 2019, Clear Height met with officials of Elk Grove Village to discuss 6b tax eligibility. The Clear Height/Blackbird team acquired the adjacent property (1250 Greenleaf Ave.) in January 2021 through a sale/leaseback, secured 6b tax status, and assembled a diverse team of real estate and construction-related service firms to execute the initiative.
“We are ecstatic that Clear Height was able to bring our acquisition, project management and strategic partnerships to the table to structure a unique solution that will enable Brett Anthony Foods to expand substantially and continue the company’s success and growth in the coming years,” said Gary Rose, COO and President of Clear Height Properties.
DSI Group, Michael Weber Architects, Cartland Kraus, and Cage Engineering merged the two buildings via a 10,000 SF addition and completed improvements to the façade, main entrance, parking lot, lighting, landscaping, and office.
“We couldn’t be happier with our Clear Height partners,” said Brett Stein, CEO and Partner of Brett Anthony Foods. “Despite all the COVID-related challenges and supply chain disruptions, we remained fully operational throughout the 18 months of construction. Not only were we able to keep all our employees working in Elk Grove, but we’ve also grown our workforce by 30%.”
About Clear Height Properties
Clear Height Properties invests in, manages, and adds value to industrial and office spaces across the Midwest. The Clear Height team prides itself on closing even the most complex and nuanced deals efficiently. Learn more about acquisition and investment opportunities, available properties, project and development services, and more at www.clearheight.com.
About Blackbird Investment Group
Blackbird Investment Group is a boutique real estate investment management firm based in Chicago, Illinois, and is a multi-disciplinary, value-oriented investor that targets undervalued, overlooked, complex, or mispriced assets. Its highly analytical approach combines local market knowledge and national capital markets expertise with economic and demographic data to uncover relative value opportunities and exploitable trends. For additional information, please visit www.blackbirdinv.com