Chicago - April 1, 2022 - Abington Emerson Investments, LLC in a joint venture with ROC, Inc., closed the acquisition of a light industrial/office building in Lake Bluff, Illinois with plans to convert the building to self-storage.
The 6.4-acre project site is located within an established business park and contains a vacant 60,169 SF structure that will be expanded and redeveloped into a ~115,000 SF, 784-unit self-storage facility. The location offers good visibility, easy access and limited self-storage competition in close proximity to the project. The Village of Lake Bluff is located on the shores of Lake Michigan and is a part of the affluent North Shore in the Chicago Metropolitan area.
The redevelopment and management of the project will be conducted in partnership with Chicago based ROC, Inc. and its principals who have many years of experience in real estate investment and development, with a particular expertise and track record in the industrial and storage sectors.
“This is the second joint venture self-storage project for AEI and ROC, and we are continuously looking for additional self-storage opportunities in the area,” commented John Racich, who is responsible for AEI’s acquisitions in the Midwest.