Brad Thompson and Chet Evans Sell 30,000 SF Wheeling Warehouse for $1.4 Million

Millennium Properties R/E, a premiere boutique brokerage and property management company, announced that it recently brokered the sale of a 30,000-square foot multi-tenant warehouse in Wheeling for $1,445,000. Brad Thompson and Chet Evans, vice presidents at Millennium Properties, were the only brokers on the deal.

The fully leased warehouse, located at 140 Shepard Ave., is divided into 10 units, many of which are leased to long-term tenants. The building features 14’ ceilings, two docks and 10 drive-in doors as well as a newer roof. The property is located within a business park near the intersection of Wheeling Rd. and Hintz Rd.

“The industrial market in Chicago remains strong, despite the record amounts of space added over the last 10 years,” said Mr. Thompson. “The strong infill location and in-place income made this property especially desirable to buyers, generating multiple offers.”

“Smaller warehouses, such as this one, are able to command higher prices on a per square foot basis, due to the limited supply available on the market,” added Mr. Evans.

Over the last three years, Mr. Thompson has closed more than 100 retail, office, industrial and multi-family sales. Mr. Evans has completed more than 140 lease and sale transactions for commercial properties in Chicago and across the country.