Clear Height Properties/Buligo Capital Partners Acquires 265,000 SF 5-Building Light Industrial Portfolio in Chicago Metro Area

A joint venture partnership between Oak Brook-based real estate investor Clear Height Properties and Buligo Capital Partners has acquired a 265,000 square-foot, 5-building light industrial portfolio located in Hoffman Estates, Schaumburg, Aurora, and Bloomingdale.

The portfolio is 100% leased to 4 tenants with over 7 years of weighted average lease term remaining.

“We are delighted to acquire this well-located portfolio with excellent real estate and strong, brand-name tenancy. Our investors will benefit from strong initial cash yields and future upside through the continued long-term tenancy and appreciation of this portfolio,” said Gary Rose, COO and President of Clear Height Properties. “The properties are strategically located within Chicago’s growing industrial and distribution hub and enjoy access to expressways, rail, shipping, and air cargo.”

Clear Height and Buligo plan to add additional value to the properties through an extensive capital improvement program, which will commence immediately. Capital improvements will likely include certain interior system upgrades, lighting upgrades, roof improvements, HVAC enhancements, and general building envelope work.

JLL’s Kurt Sarbaugh (Senior Director, Capital Markets) and John Huguenard (Senior Managing Director, Industrial Platform Leader) represented the seller.

JLL’s Capital Markets team of Christopher Carroll (Managing Director) and Lucas Borges (Director) led the financing efforts.

The seller was Chicago-based investor Green Door Capital.