Marcus & Millichap is pleased to present the opportunity to acquire the property located at 287 Northfield Road in Northfield, Illinois, anchored by Power of The Golf Ball. The subject property consists of approximately 15,000 square feet of flex space and is situated on 1.1 acres of land. The multi-tenant asset features five suites, a clear height of 16’, two dock-high doors accessible through a double-wide grade-level door , one grade-level door, and 49 parking spaces. Located only 0.3 miles from the on-ramp to Interstate 94, the property is situated amongst Chicago’s most affluent ZIP codes with an average household income of about $184,000 within five miles of the asset (CoStar) . Fully occupied by four sports training-related tenants and a home tech company, the property benefits from the high-income area. With a weighted average lease term (WALT) of 2.75 years, the leases are set to escalate from 3.0 to 3.5 percent starting in March 2026 through January 2027. Four of the tenants have invested significant capital in specialized buildouts, creating an opportunity for buyers to acquire an asset that reduces the risk of tenant loss.
The subject asset is well-positioned within the North Cook submarket that borders Lake Michigan. Home to Northwestern University, North Cook is a massive submarket containing 54.3 million square feet of industrial space. At 59 percent, the submarket consists mostly of logistics facilities, followed by specialized and flex space at 31 percent and 10 percent, respectively. In the 12 months running through Q2, net absorption remained in positive territory at about 62,000 square feet. However, new supply outpaced demand with net deliveries reaching over 890,000 square feet. As a result, the vacancy rate in Q2 increased by 140 basis points annually to 6.6 percent but stabilized quarter-over-quarter. While above the Chicago market average, North Cook’s vacancy rate was still below the 7.6 percent national average (based on the top 50 metros, minimum 10,000 square feet, and classes A, B, and C). The increase in availability caused annual rent growth to decelerate to 3.8 percent, pushing the average asking rent to about $12.10 per square foot. At the midway point of 2025, there were no industrial properties under construction in North Cook, putting demand back in the driver’s seat of vacancies and rents for the foreseeable future (CoStar).
Known as the Greater Chicagoland area, Chicago-Naperville-Elgin is the third-largest metro in the nation. The metro houses 9.3 million people, including 2.7 million residents within the city of Chicago. The number of corporate headquarters in Chicago is second only to New York City and is home to 30 Fortune 500 companies. Thanks to eight commercial and passenger rail lines, the Port of Chicago, three international airports, and a vast network of freeways, Chicago is a major distribution and logistics hub. The local economy and workforce are highly diverse, supported largely by distribution, finance, manufacturing, and high-tech industries. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 50 wards, and eight major league sports teams, including two MLB teams. Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing affordable housing in attractive and economically sound communities, ensuring accessibility for all, and fostering, social, economic, and environmental sustainability (Chicago.gov).
BROKER OF RECORD
STEVEN WEINSTOCK
Illinois Broker of Record
One Mid America Plaza, Suite 200
Oakbrook Terrace, IL 60181
Office (630) 570-2200
Steven.Weinstock@MarcusMillichap.com
License: 471.011175
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2025 Marcus & Millichap. All rights reserved. (Activity ID: ZAG0370197)
