Chicago

Stream Realty Partners Acquires Halsted Pershing Business Center in Chicago’s Stockyards Submarket

Chicago, IL
June 19 2 min read

CHICAGO – June 18, 2024 – Stream Realty Partners, a national commercial real estate firm offering an integrated platform of services, announces the acquisition of the Halsted Pershing Business Center, located at 815 W. Pershing Avenue in Chicago’s Stockyards submarket. This industrial property, encompassing 104,008 square feet, stands out as a rare Class A facility within the city limits.  

The Halsted Pershing Business Center is 100% leased to three tenants with an average of four years of term remaining, ensuring stable, long-term occupancy. Additionally, the property features a recently renewed 6b tax classification, enhancing its appeal and value in the competitive Chicago industrial market. 

Stream Executive Managing Director & Partner Patrick Russo, Portfolio Manager Mustafa Ali, and Associate Ben Harrison facilitated the acquisition. JLL’s Capital Markets team, which included Ed Halaburt, Sean Devaney, John Huguenard, Kurt Sarbaugh, Will McCormack, and local market expert Michael Conway, represented the seller.  

“Acquiring the Halsted Pershing Business Center is a significant step for Stream as we expand our industrial portfolio and service business in Chicago and the Midwest,” said Russo. “This property exemplifies our commitment to investing in high-quality, strategically located industrial assets that provide long-term value.”  

“The acquisition is a play on the tight supply and demand fundamentals in South Chicago, especially on the small tenant side,” said Ali. “The Stockyards submarket has become one of the most concentrated areas of new tenant demand for cold storage and food users in Chicago.” 

Halsted Pershing Business Center was acquired and overseen by Stream’s Investment Management team, which leverages expertise from Stream’s 16 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream currently manages a portfolio of 41 investments, totaling 23.2 million square feet and approximately $2 billion of equity, across five commingled funds, several joint venture vehicles, and wholly-owned assets. 

For more information, contact Stream Chicago at 312.801.9396.  

About Stream Realty Partners 

Stream Realty Partners is a national commercial real estate firm offering an integrated platform of leasing, investment and development services. This includes tenant and landlord representation, Legendary CX property management, capital markets, investment management and sales, construction, construction management, national program management, workplace strategies, strategic marketing, and dedicated research. The company is headquartered in Dallas with operations in core markets coast to coast. Since 1996, Stream has grown to more than 1,400 professionals and now completes annual transactions valued at more than $8.8 billion in office, industrial, retail, healthcare, land, and data center properties. For information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook. 

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Patrick Russo

Executive Managing Director & Partner, Chicago Contact
Mustafa Ali

Mustafa Ali

Portfolio Manager Contact
Ben Harrison

Ben Harrison

Associate - Investments Contact