Marcus & Millichap is pleased to present the opportunity to acquire the industrial park located at 500 to 562 West Taft Drive (East 163rd Street) in SouthHolland, Illinois. The subject property consists of approximately 98,840 square feet of shallow-bay industrial space and is situated on 6.1 acres of land. The four-building asset features masonry construction, a 14’ clear height, 38 units, 28 dock-high doors, and three grade-level doors. With Interstates 294/80 and 94 positioned within a seven-minute drive from the industrial park, the property has premier accessibility in the south Chicago suburbs. Two major intermodal hubs, Canadian National Chicago Intermodal Terminal and Union Pacific Dolton Illinois, are located within three miles of the industrial park. At 94.54 percent occupied, the property generates a 7.92 percent cap rate with a weighted average lease term of 1.89 years at the time of listing. With the average rent priced 24.8 percent below the going market rate, this sale offers investors a significant value-add opportunity.
The subject property is well-positioned within the massive Near South Cook submarket, containing 53.1 million square feet of industrial space. In the 12 months through Q3 2025, net absorption fell by about -536,000 square feet. During this time, net deliveries contracted by roughly -23,000 square feet as demolitions outpaced deliveries. While availability increased 100 basis points year-over-year, at 6.9 percent, the vacancy rate in Near South Cook stood 80 basis points below the national average (based on the top 50 metros, classes A, B, and C, minimum 10,000 square feet). At 3.9 percent, the asking rent growth in the submarket is more than double the 1.6 percent annual rate nationwide. Over the last decade, the average asking rent in Near South Cook has increased by 64 percent to about $9.90 per square foot. With only 17,000 square feet of industrial space under construction in the submarket, rents and vacancies will be unaffected by new supply 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
Tel: (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. © 2026 Marcus & Millichap. All rights reserved. (Activity ID: ZAG0370406)
