Clear Height Properties/Harbert U.S. Real Estate Acquire Industrial Property in Elmhurst, Illinois
A joint venture partnership between Oak Brook-Illinois-based real estate investor Clear Height Properties (“Clear Height”) and Harbert US Real Estate (“HUSRE”), an investment strategy sponsored by Harbert Management Corporation (“HMC”), has acquired a three-building, 3.75-acre property totaling 65,000 square feet. The property is in Chicago’s North DuPage submarket, with immediate access to I-290 and I-294, at 730 North York Street in Elmhurst, Illinois.
“730 York is an extremely rare infill property in the center of the North DuPage submarket,” said Rick Nevarez, Director of Acquisitions, Clear Height Properties. “The property is comprised of two ~30,000 square foot, 24’ clear, warehouse buildings; a 3,000 square foot service building; and significant outdoor parking areas.”
Denis Vujasinovic represented the seller and Brad Bullington of GC Realty & Development represented Clear Height in the purchase transaction.
John Suerth, Jason Lev, and Jimmy Kowalczyk of CBRE have been retained by Clear Height to market the property for lease.
About Clear Height Properties
Piloted by an experienced leadership team, Clear Height Properties has built a strong platform for acquiring and operating industrial real estate in the most desirable locations throughout the Midwest. From its headquarters in Oak Brook, Illinois, the firm has bought and sold 180 assets totaling over $800M over the past ten years, establishing a record of strong risk-adjusted returns. Driven by its core values and mission of “building wealth and creating legacies,” Clear Height is uniquely positioned to invest in, manage and add value to every asset and relationship. Learn more at www.clearheight.com.
About Harbert Management Corporation
Harbert Management Corporation is an alternative asset manager with approximately $7.9 billion in Regulatory Assets Under Management as of October 31, 2023. Formed in 1993, the firm is privately owned and serves foundations and endowments, fund of funds, pension funds, financial institutions, insurance companies, family offices, and high net worth individuals across multiple asset classes. Investment strategies include European and U.S. real estate, seniors housing, U.S. growth capital, credit solutions, infrastructure, and absolute return funds. For additional information about HMC visit, www.harbert.net.