Founders Properties Acquires 100,871-SF Wilton Industrial in Woodridge, Illinois, for $21.7 Million
Minneapolis-based Founders Properties has acquired Wilton Industrial, a fully leased, 100,871-square-foot industrial facility on West 78th Street in Woodridge, Illinois, for $21.7 million, the firm announced. Cushman & Wakefield represented the seller.
Wilton Industrial Acquisition: Deal Details
The purchase price works out to approximately $215.13 per square foot. Wilton Industrial is a single building constructed in 2022 and is fully occupied by two tenants in the food industry.
Founders Properties said the property features functional layouts and modern specifications, including 32-foot clear heights and 14 dock doors that are expandable to 20. The firm said the building's suite sizes align with the most active tenant size in the market.
The firm described the building as well-positioned within a market exhibiting continued rent growth and limited future vacancy risk.
Founders Properties' Industrial Strategy
"This acquisition reflects our focus on high-quality, infill industrial assets. With access to Chicagoland's transportation network, modern construction, and exceptional visibility and accessibility, the property is a strong fit with our investment strategy," said Chris Courneya, managing director of Founders Properties.
Founders Properties is a privately held real estate investment management company headquartered in Minneapolis. The firm says it has invested in private commercial real estate for 25 years on behalf of high-net-worth and institutional investors. It currently manages $1 billion in real estate assets, with a focus on industrial properties.
Chicago Industrial Market Context
The acquisition comes as Chicago industrial fundamentals strengthened during the second quarter of 2026. JLL reported a vacancy rate of 4.5%, down from 5.0% a year earlier, with net absorption of 5.8 million square feet and average asking rent of $8.12 per square foot. CBRE reported 6.1 million square feet of quarterly absorption, 7.4% year-over-year rent growth and an 8.6% availability rate.
Cushman & Wakefield reported 21.8 million square feet of new leasing activity through midyear 2026, up 11.1% year over year, with industrial vacancy of approximately 4.8%. Newmark reported 4.9 million square feet of second-quarter absorption, vacancy of 5.1% and direct asking-rent growth of 6.0% year over year.
JLL forecasts that Chicago rents will continue to rise, with approximately 14.2 million square feet in the development pipeline, 32% of which is already preleased.
Pricing in Context
At about $215 per square foot, the price is above broad Chicago industrial pricing benchmarks. Matthews reported second-quarter average pricing of about $102 per square foot and an average cap rate of 8.1%, while Newmark reported average pricing near $99 per square foot and cap rates around 6.7%. Those averages span a wide range of asset ages, locations and risk profiles and are not directly comparable to a newly built, fully leased building.
For stabilized Class A logistics assets in Chicago and other Midwest primary markets, reported cap-rate ranges were approximately 5.5% to 6.0%, compared with 7.0% to 8.5% for value-add and Class B repositioning opportunities.
Outlook
The transaction adds a 2022-vintage, fully occupied infill asset to the portfolio of Founders Properties, which has concentrated on industrial investments. With Chicago vacancy declining and rents rising across multiple broker reports, the Woodridge purchase reflects continued investor interest in modern industrial product in the market.
Sources
- Founders Properties: https://www.foundersproperties.com/woodridgeacquisition