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1040 N Halsted StChicago, IL 60642
1040 North Halsted • Last-Mile Flex-Industrial
Asset ClassIndustrial
Last-Mile Multi-Tenant Flex-Industrial
overview of deal

Overview

Greenstone Partners, as the Exclusive Investment Advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in 1030–1040 North Halsted Street (the “Property” / “Investment”), a fully leased, urban infill flex-industrial asset prominently located in Chicago’s centralized and highly accessible Goose Island neighborhood.

 

The Property, a last-mile flex-industrial building generates solid cash flow with meaningful upside anticipated within the next four years. Dog. Hotel | Daycare occupies 42% of the premises at a below-market net effective rent of $10.22/SF, while the balance of tenancy averages $21.74/SF net, underscoring a substantial mark-to-market opportunity. With Dog. Hotel | Daycare’s lease expiring in 2029 and no renewal options, offering maximum repositioning flexibility, an investor is well-positioned to capture long-term upside upon rollover.

 

The building is comprised of three tenants: Dog. Hotel | Daycare, Hogsalt Hospitality, and Greenstone Partners. Dog. Hotel | Daycare is a premier Chicago-based pet care provider offering boarding, daycare, and grooming services from the 24/7 staffed facility. Hogsalt, an internationally recognized Chicago-based restaurant group, operates acclaimed concepts such as Au Cheval, Bavette’s Bar and Boeuf, High Five Ramen, and Armitage Ale House, with additional locations in New York, Las Vegas, and Paris. Greenstone Partners, headquartered at the Property, is a leading commercial real estate brokerage firm specializing in investment sales.

 

Positioned in the heart of Goose Island, the Property delivers true last-mile flex-industrial capabilities in one of Chicago’s most dynamic urban neighborhoods. Tenants benefit from abundant parking, proximity to three CTA train stations within one-mile, multiple bus lines offering cross-city connectivity, and immediate access to Interstate 90/94 for seamless suburban connections. The scarcity of centrally located functional industrial assets enhances the Property’s competitive positioning. At the same time, Goose Island’s ongoing transformation, driven by over 2,600 new luxury apartment developments, the currently under development Bally’s Chicago Casino, and institutional investment continue to fuel demand and elevate the submarket.

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Investment Highlights

⦿ SOLID IN-PLACE CASH-FLOW + MARK-TO-MARKET UPSIDE

 

⦿ LAST-MILE INDUSTRIAL + CENTRALIZED NEIGHBORHOOD CONNECTIVITY

 

⦿ GOOSE ISLAND REVITALIZATION + GROWTH MOMENTUM

 

⦿ EXCEPTIONALLY RARE OVER ABUNDANCE OF PARKING + CONNECTIVITY

 

⦿ MAJORITY NET LEASES + SOLID & REPUTABLE TENANCY

 

⦿ INSTITUTIONAL CAPITAL TARGETS GOOSE ISLAND

 

⦿ STRONG LEASING DEMAND FOR INFILL FLEX-INDUSTRIAL

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1040 N Halsted StChicago, IL 60642

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Listing provided by Revere CRE