CHICAGO – May 12, 2021 – Abington Emerson Investments, LLC in a joint venture with ROC, Inc., closed the sale of the recently completed self-storage facility in the Chicago suburb of Willowbrook. The 150,000SF facility consists of two, 100% air-conditioned buildings for self-storage and high-end car storage. The self-storage building has 798 units of various sizes. The Toy Box Car storage building has space for 108 cars and is one of the most exclusive car storage facilities in the Chicagoland market. The property is located in an affluent suburb of Chicago with close proximity to residential and commercial sectors.
The joint venture acquired the site and commenced construction in summer of 2019. The facility received its certificate of occupancy and started accepting tenants in May of 2020. Since opening for business, leasing at both the self-storage and car storage has been in line or above initial projections and the team began evaluating exit options for the property in early Q1 2021. The facility was sold for $16,500,000 in May of 2021.
“The property was developed in response to substantial demand for climate-controlled space in the area and the car storage offered white glove service to car collectors and owners throughout the Western suburbs of Chicago. We are very pleased with the outcomes of this development and looking forward to more projects in the area,” commented Johnny Camarena, a partner at Abington Emerson Investments.