Chavez Properties Enters the Chicago Market with Purchase of the Midway Business Center
Chavez Properties expanded its investment portfolio with the purchase of the 55-acre Midway Business Center on March 23. The mixed-use, industrial, office and retail complex is located adjacent to Midway International Airport, which aligns precisely with the company’s interests in near-airport and urban parking and commercial real estate.
The property – located along Archer, Cicero and Laramie avenues – includes more than 1.1 million square feet of warehouse and office space and houses several office and industrial tenants in two of its existing buildings. After the acquisition, Chavez Properties developed a 4,500 square foot retail space on the bustling intersection of Archer and Cicero. The retail building’s primary tenant is Starbucks, a company that is known for its highly selective, data-backed real estate choices.