Safeguard Self Storage Expands Chicago-Area Portfolio With Hermosa Development

Safeguard Self Storage, which operates facilities throughout the eastern states, has opened a new facility in the Hermosa neighborhood of Chicago. The site is the company’s 15th in the city and 71st in the nation, according to a company press release.

Safeguard Self Storage, which operates facilities throughout the eastern states, has opened a new facility in the Hermosa neighborhood of Chicago. The site is the company’s 15th in the city and 71st in the nation, according to a company press release.

The property at 4534 W. North Ave. is nine miles west/northwest of the downtown area. It comprises 58,400 rentable square feet of storage space in 861 climate-controlled and drive-up units. Security features include controlled access, individual unit alarms and video cameras.

This opening represents the company’s fifth Chicago addition in the past three years, according to Jim Goonan, executive vice president of development. Safeguard developed one facility in the region in 2014, another in 2015, and two last year.

“We have been in the Chicago market since opening our first self-storage facility there 17 years ago on South Wabash Avenue,” added Ken Finlay, executive vice president of operations. “This opening culminates a 50 percent expansion of Safeguard’s portfolio in Chicago that was started three years ago and is providing the company with great name and brand recognition in the market.”

Safeguard also has three more facilities under development in New York and six in Florida, Goonan said.

Founded in 1989 and headquartered in Atlanta, Safeguard operates facilities in Florida, Illinois, Louisiana, New Jersey, New York and Pennsylvania. The company is owned and operated by Morgan Stanley’s Prime Property Fund.

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