Safeguard Self Storage has purchased land in the Uptown neighborhood of Chicago on which it plans to build its 69th storage facility. The asset at 5026 N. Sheridan Road will be the company’s 12th in the Chicago market. The company currently has another facility under construction in Chicago’s West Rogers Park neighborhood. Both locations are expected to open next year.
Safeguard announced its intent to expand its market presence in January. “The Chicago area is a terrific market for Safeguard and provides the company with the opportunity to add value to the Safeguard portfolio,” said Allan Sweet, CEO. “This property is in a region where the company already owns and operates stores, and we consider its addition to our real estate holdings as an important next step for the company.”
The Uptown facility will comprise 52,000 square feet in 770 storage units. Amenities will include climate control, a drive-up loading area, coded access to the building and security video cameras. The building’s façade will be designed to blend in with the surrounding neighborhood, company officials said in a press release.
“The Uptown store, similar to all our Chicago facilities, is designed to provide an exceptional customer experience,” said Ken Finlay, senior vice president of operations. “This facility will complement our product offerings in Illinois and demonstrates our commitment to and confidence in this strong market.”
Headquartered in Atlanta, Safeguard Self Storage was founded in 1989 and currently operates more than 60 facilities in Florida, Illinois, Louisiana, New Jersey, New York and Pennsylvania. The company is owned and operated by Morgan Stanley’s Prime Property Fund.