A joint venture partnership between Oak Brook-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 20,000 square-foot, light industrial building located at 500-502 Crossen Avenue in Elk Grove Village, Illinois.
The property is fully leased to two-tenants with four dock-high doors, three drive-in doors, and is the eighth industrial building Clear Height owns and operates in Elk Grove Village.
500 Crossen is located immediately west of the intersection of Busse Road and Oakton Street, in the center of Chicago’s O’Hare industrial submarket.
Mason Hezner of Brown Commercial Group, Inc. was the sole broker in the purchase transaction.
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 175 assets totaling over $750M 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 September30, 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.