Clear Height Properties Announces Sale of Redeveloped Industrial Service Facility in Morton Grove, Illinois
Clear Height Properties announced the successful disposition of 6401 Oakton Street, a 3-acre industrial outdoor storage (IOS) site with a 33,225 SF warehouse, located in Morton Grove, Illinois. The property was owned by Clear Height Properties Fund I and Westshore Capital Group.
Clear Height acquired the vacant facility in 2024. The investment thesis centered on the site itself: a low-coverage infill parcel in North Cook County with the land area and zoning to support secured outdoor storage, a use that is difficult to replicate in the north suburbs. Clear Height underwrote a full redevelopment of the property and a return to the market as a modern, single-tenant IOS site.
Over the hold, Clear Height executed a significant redevelopment of the site. The business plan included demolition of an existing structure on the property, construction of a new parking lot that converted excess land into a secured outdoor yard, as well as a renovation of the existing warehouse. The result was a repositioned IOS site offering a combination of warehouse and yard that the surrounding submarket rarely delivers.
“This investment wasn’t a light lift. Repositioning a vacant building into a fully secured, single-tenant IOS site takes the right site and the discipline to see the plan through. We had both here, and the team delivered exactly what we set out to build,” said Kevin Bufalino, Managing Director of Asset Management at Clear Height Properties.
Finally, Clear Height would like to thank the Village of Morton Grove for its partnership throughout the redevelopment. The Village was an active partner throughout the redevelopment process, and its support was a meaningful factor in delivering the project.
Pat Turner and Brendan Green of Colliers International represented Clear Height Properties. The buyer was represented by Chris Volkert of Colliers International.
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 central United States. From its headquarters in Oak Brook, Illinois, the firm has bought and sold 213 assets totaling more than $1 Billion over the past fifteen 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.