Clear Height Properties / Long Wharf Capital Acquire Industrial Building in Chicago’s O’Hare Submarket
A joint venture partnership between Oak Brook-Illinois-based real estate investor Clear Height Properties (“Clear Height”) and Boston-Massachusetts-based Long Wharf Capital (“Long Wharf”) has acquired 1400 Morse Avenue in Elk Grove Village, Illinois. The 91,937 square foot building is located in Chicago’s O’Hare Submarket, the center of Chicago’s Industrial market.
The property boasts a unique and rare combination of features: 20-foot ceiling heights, 9,700 square feet of office/showroom space, 8 dock-high doors, 2 drive-in doors, and parking for nearly 100 vehicles.
Bill Lussow, SIOR and Matt Kelly, SIOR of Bespoke CRE were the sole brokers in the sale transaction. Terry Herlihy, Mark Baumhart and Harrison Taylor of NAI Hiffman have been retained to market the property.
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 and central United States. From its headquarters in Oak Brook, Illinois, the firm has bought and sold more than 200 assets totaling over $900M 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 Long Wharf Capital
Long Wharf Capital LLC is a Boston-based private equity real estate manager focused exclusively on value-added investments in the U.S. Formed in 2011, the firm invests on behalf of institutional clients including pension funds, endowments, foundations, and family offices. Long Wharf’s investment approach utilizes multiple value creation strategies to target opportunities across property sectors and U.S. markets. Since Long Wharf’s first fund in 2012, the team has invested $1.4 billion of equity in more than 80 investments across the U.S. with an aggregated gross cost of $4.1 billion. For further information, visit: www.longwharf.com.