PRESS RELEASE – Joint-development partners, The Missner Group and Timber Hill Group, are pleased to announce the sale of their recently completed development, Chaddick Industrial Centre, located at 1075 Chaddick Drive in Wheeling, Illinois.
Kohlberg Kravis Roberts & Co. purchased the modern 84,000 square foot facility, which leased 64% of the total space to a single tenant during the construction phase of the project. Jonathan Kohn of Colliers International represented the buyer in this transaction.
The property lies within the Northeast Cook County submarket of Chicago, making it eligible for Cook County’s Class 6B tax incentive status. The building features attractive pre-cast and glass elevations, ESFR fire safety system, 30’ ceiling clear heights, ten exterior loading docks, drive-in doors, and 99 parking stalls. The Missner Group completed construction of this development last fall.