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**Greenstone Partners Closes $17M Flex-Industrial Sale in Chicago**
Greenstone Partners has successfully completed the $16.95 million sale of a multi-tenant flex-industrial property located at 3800 N. Milwaukee Avenue, in Chicago’s Irving Park neighborhood. The property sold for approximately $132 per square foot.
“This transaction highlights the depth of demand for well-located, urban-infill flex/industrial assets in Chicago’s North Side submarkets,” said Danny Spitz, CEO of Greenstone Partners. “The property’s high-ceiling clear-span spaces, combined with a diverse tenant base and a location in a low-supply corridor, drove strong interest and resulted in a competitive sale process.”
Spitz and Brewster Hague of Greenstone Partners represented the seller and also procured the buyer, an Illinois-based private equity group. The deal attracted multiple offers, demonstrating the robust investor appetite for well-positioned flex-industrial properties in urban infill locations.
The 128,222-square-foot asset is home to a variety of tenants, including a daycare, multiple indoor sports facilities, and auto-related office and service operators. At the time of the sale, the property was 98% leased.
For those interested in industry insights, Carter Andrus, Chief Operating Officer of Prologis, will be the keynote interview at Connect Industrial Midwest, taking place Tuesday afternoon, March 10, 2026, at Joe’s Live in Rosemont, IL.
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