Business

Investors acquire Lake County industrial property

Posted September 11, 2023 11:00 pm

OAK BROOK - A joint venture partnership between Oak Brook-based real estate investor Clear Height Properties and Harbert US Real Estate has acquired an industrial property at 700‒750 Chestnut Ave. in Park City.

Situated between Lake Bluff and Waukegan, and only a mile from the new American Place Casino, the eight-acre property includes two buildings totaling 103,686 square feet. Both buildings are leased by Reyes Coca-Cola Bottling.

Financial details of the transaction were not released.

In addition to the two buildings, the property includes gated outside parking and storage for semi-truck cabs and semi-truck trailers, as well as fleet delivery vehicles.

"This acquisition is perfectly aligned with our investment strategy," said Rick Nevarez, Clear Height Properties' director of acquisitions. "We target distribution, manufacturing, flex and industrial service facilities. These assets are unique with parking and generous outdoor storage."

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