LifeStorage, an operator of self-storage facilities in the Chicagoland area, has announced the acquisition of its 19th and 20th locations.
LifeStorage facility No. 19, at 601 W. Harrison Street in Chicago, was purchased from Metro Self Storage. Situated on a 1.23-acre lot on the corner of Harrison and Jefferson Streets, the building was originally constructed in 1964 and converted for storage purposes in 2006. It contains 1,021 storage units and is 71 percent occupied. The facility features heating and air conditioning, heated drive-in loading bays, and a three-story drive-through.
The Harrison Street facility is LifeStorage's eighth property in Chicago proper. The neighbordhood is home to McCormick Place, the nation's largest convention center.
The facility will be managed by area manager Shalonda Siler and store manager Malia Motley.
“There's an advantage to purchasing a facility that is pre-made, so to speak, and one that we only have to re-purpose to our needs," said Michelle Wight, LifeStorage director of operations. "Since this building was a self-storage facility, we already had a strong starting point."
LifeStorage facility No. 20, at 16869 Kilbourne Ave. in Country Club Hills, was purchased from Extra Space Storage. Situated on a 2.18-acre site, the property is in the Country Club Plaza, a 450,000-square-foot retail center. The three-story, steel-frame building was constructed in 2007, and the entire building is climate-controlled. It contains 631 units, 80 percent of which are occupied.
“We're really excited with the property and its location. The shopping center alone attracts large amounts of traffic with stores like Walmart, GameStop and Radio Shack, a Lowe's Theater, and eateries like McDonald's and Applebee's," said Wight. "To see LifeStorage's name amongst such well-known brands is going to be great ... With this facility, I think we've hit a home run."