September 14, 2018
Chicago-based Dayton Street Partners has closed on its acquisition of a 42,000-square-foot industrial building at 2501 West Fulton in Chicago’s Kinzie Industrial Corridor. Formerly owner-occupied, the building was 100% vacant at acquisition. The seller was Keystone, and the sale price was $2.8 million.
“Demand for quality infill industrial space that features abundant parking and immediate access to Chicago’s neighborhoods is not abating,” said Dayton Street’s Michael Schack. “2501 West Fulton is the rare urban property that satisfies that demand.”
Dayton Street plans to renovate the property, which was originally built in the 1960s. The program will include new LED high-bay lighting, white boxing of the warehouse, and parking lot improvements.
Scott Duerkop and Dominic Carbonari of JLL represented the seller’s kin in the transaction. Dayton Street has been among the most active investors and developers of industrial property locally, and in particular the Kinzie Corridor.
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