1334 E. 79th Street

The value-add strategy included conversion of a well-located historic Sears store with excellent exposure along the Skyway into state of the art 100% climate controlled self-storage asset. The property consists of 94,153 net rentable square feet and 925 units. Extra Space was engaged as the operator and has achieved strong leasing velocity since opening in July 2020. In addition to the self-storage building, there is approximately 5.5 additional acres for the future development of retail or residential.  

Location

Chicago, IL

Website

bit.ly/exstorageFP

Leasing

Colin Green

Cushman & Wakefield

630 272 9968

Colin.Green@cushwake.com


Extra Space Storage

855 638 3059

  • Asset Class: Self-Storage
  • Development Type: Adaptive Re-use
  • Building Size 225,000 sq ft
  • Architect: Sullivan Goulette Wilson
  • Located just 10 miles from the downtown Loop in Avalon Park one of Chicago‚Äôs most densely populated areas, with 36,000 people within 1-mile, 145,000 people within 2-miles and 244,000 people within 3-miles
  • The asset has a tower with highly visible Extra Space signage and the site has over 105,000 vehicle per day combined from the I-90 Skyway (50,000 VPD) and 79th Street (55,800 VPD)
  • Under supplied market and lack of institutional quality assets with climate control. Existing supply in a 3-mile area is 3.52 square feet per capita versus a general market equilibrium estimate of 7 square feet per capita