Clear Height Properties/Harbert U.S. Real Estate Acquire Single-Tenant Light Industrial Building in Chicago Ridge, 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 64,340 square foot, single-tenant light industrial building located at 9999 Virginia Avenue in Chicago Ridge, Illinois, located with immediate proximity to the I-294 & 95th Street interchange. The property includes over an acre of outdoor space for storage and/or fleet parking.
Clear Height will implement a capital improvement plan and shortly reintroduce the property to the market.
Jimena Sayavedra, Jack Cozzie, and Elise Couston from Newmark were the sole brokers 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 and central United States. From its headquarters in Oak Brook, Illinois, the firm has bought and sold 194 assets totaling over $850M 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 $7.8 billion in Regulatory Assets Under Management as of April 30, 2024. 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.