Gateway Park

Jones Lang LaSalle (“JLL”), as exclusive advisor to ownership, has been retained to market for sale the fee-simple interest in Gateway Park (the “Offering” or the “Property”), a 661,875 square foot industrial facility located in the labor and transportation abundant Chicago South industrial submarket. A rare chance to acquire post-2000 construction with 30’ clear heights, in this high barrier to entry submarket, the Property is the 2nd largest building classified as Modern Product* in the City (2nd to Exchange 55). The submarket is currently 3.4% vacant with 33% 5-year rent growth. Located adjacent to both the CSX and Norfolk Southern intermodal, four (4) miles from the I-90/I-94 intersection, and 11.2 miles south of downtown, Gateway Park’s strategic infill location offers proximity to major transportation infrastructure, a vast amenity base, and favorable demographics. Further proving the scarcity of this type of infill product, Chicago South is a 100.6 million square foot submarket and Gateway Park is one (1) of only four (4) existing buildings over 500,000 SF that classify as “Modern Product”.

The Offering is 100% leased to Assemblers Inc. (the “Tenant”), a 50-year-old Chicago-based 3PL specializing in primary and secondary snack food manufacturing, co-packaging, and distribution. The Property serves as Assemblers headquarters and is home to over 1,000 employees spanning 24/7 across 3 shifts of operations. In 2022, ownership renewed its Cook County 6B Tax Incentive enticing Assemblers to expand into the then-occupied 210,000 square feet eastern portion of the warehouse/office space and inking a 132-month extension through January 2032, demonstrating their commitment to the Property. While there are 6.6 years of lease term remaining, JLL projects that, upon expiration, ownership unlocks significant mark-to-market upside as in-place rents today are 65% below market. The Property offers investors a unique opportunity to acquire a highly functional, stabilized industrial product at a basis irreplicable in today’s environment.

1.Modern Product data is based on Costar research of inventory in the South Chicago industrial submarket constructed after 2001 and features 30' clear height.