The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market the sale of this Extra Space (Managed) Self-Storage opportunity in Chicago, Illinois.

This unique opportunity allows for the acquisition of an institutional quality multistory climate-controlled property in the heart of Chicago’s Loop District. This incredible location is managed by Extra Space and offers 1,140 units across 99,429 NRSF. The 1-mile trade area features over 60,803 people with an average household income over $175,967 and over 65% of these residents are renters. Within 3 miles of the site there are over 352,700 people. The neighboring hotel currently occupies one floor and this lease recently renewed for an additional 5-year term. The property features two large drive-in bays for added customer convenience with a weather protected drive through on the ground floor with ingress/egress on both S Wabash Ave and E Harrison Ave. As of March 17, 2025, Extra Space holds a current occupancy of 90.3% by square footage and 92.0% by units, while historically reaching around 97% during peak leasing season. This nearly stabilized facility is an iconic opportunity for investors seeking to enter or expand their storage footprint in Chicago, Illinois.

The project is located one block west of Millenium Park in the heart of the Chicago Loop. The Loop is Chicago’s central business district. Located at the center of downtown Chicago on the shores of Lake Michigan, it is the second-largest business district in North America after Midtown Manhattan. The headquarters and regional offices of several global and national businesses, retail establishments, restaurants, hotels, and theaters–as well as many of Chicago’s most famous attractions are located in the Loop. This multistory climate-controlled storage center benefits from its proximity to the existing high-end residential base as well as more than 50,000 new residential units in the pipeline within 3 miles. With the project now close to physical stabilization, it offers the opportune time to implement aggressive rate increases. The project also offers several unused areas offering an investor additional upside.

Chicago is the third-largest city in the U.S. with a population exceeding 2.7 million people with the Chicago MSA population exceeding 9.0 million. Chicago is a dynamic economic hub. It hosts the headquarters of major corporations like McDonald’s, Boeing, and United Airlines, contributing to a thriving business landscape. With its prestigious universities, world-renowned museums, and iconic sports culture, Chicago continues to attract both residents and visitors, ensuring a steady demand for both residential and commercial services. This property’s location in such a vibrant market further strengthens its potential for continued success.