Clear Height Properties/Blackbird Investment Group Announce Sale of 56,500 SF Industrial Building in Elk Grove Village, Illinois

A joint venture partnership between Oak Brook, IL-based real estate investor Clear Height Properties and Chicago, IL-based Blackbird Investment Group has sold a 56,500 square-foot industrial building located at 1400 Greenleaf Avenue in Elk Grove Village, IL.

The team acquired the property in January 2021, secured 6b tax eligibility, and completed renovations totaling approximately $720,000. Construction projects included improvements to the facade, main entrance, parking lot, lighting, landscaping, and office (including lighting, painting, carpeting, ceiling tile replacement, and improvements to the bathrooms and kitchenette).

“Our strategic process improvements brought this asset to market standards allowing for a quick exit,” said Joe Young, Vice President, Asset Management & Acquisitions, Clear Height Properties.

With immediate access to O’Hare and I-90, the masonry building was constructed in 1973 and features wide-open warehouse space, 9,500 SF office, 1,200 SF mezzanine, three loading docks, and a clear height of 18’6”.

The buyer is Ideal Property Investments. Justin Lerner, Executive Vice President at Transwestern, represented both parties.