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Metro Self Storage Plans Conversion of Former Furniture Store in Skokie, IL

Update 6/24/15 – Metro Storage formally announced plans this week for its self-storage conversion project at 3240 W. Touhy Ave. in Skokie. When complete, the facility will comprise 83,000 rentable square feet in 884 units. Construction is scheduled to begin this summer, with the project expected to be finished next spring.

June 24, 2015

3 Min Read
Metro Self Storage Plans Conversion of Former Furniture Store in Skokie, IL

Update 6/24/15 – Metro Storage formally announced plans this week for its self-storage conversion project at 3240 W. Touhy Ave. in Skokie. When complete, the facility will comprise 83,000 rentable square feet in 884 units. Construction is scheduled to begin this summer, with the project expected to be finished next spring.

“We obviously like the Chicago market, and we’re always looking for opportunities to expand here,” said Matt Nagel, chairman. “This property has all the right elements to construct and operate a successful storage facility.”

In addition to a raised roof that will accommodate a second floor, the project will include multiple loading points around the building. The facility will offer only climate-controlled units and feature security and a “large, modern business office,” company officials said in a press release.

“We knew this property was a good selection for conversion due to its excellent location on an extremely busy east/west arterial street with a dense three mile population, strong market demographics and a great retail building.” said Blair Nagel, CEO.

Metro Storage received an $8.1 million development loan from Associated Bank.

The facility will be Metro’s 19th in the Chicago market.

3/27/15 – Metro Storage LLC, which operates the Metro Self Storage brand in 11 states, has proposed to convert a former Wickes Furniture building in Skokie, Ill., to self-storage. The Skokie Plan Commission recently recommended the site plan and other provisions submitted as part of the company’s application. The Village Board must still approve the project.

The retail property on the 3200 block of Touhy Avenue is about 4.4 acres, with the commercial building comprising more than 64,000 square feet, mostly on one floor, according to the source. Metro Storage intends to raise the roof of the structure to create space for a second-floor mezzanine, adding 58,421 square feet. The furniture store went out of business in 2008.

The self-storage facility would offer 812 units and 55 vehicle spaces. The company also plans to redesign the building’s exterior and add an office area to the southern end of the building. A 1-acre parcel on the southwest portion of the site would be reserved for future development, the source reported.

The property is also home to a branch of North Community Bank, which would not be altered under the plan, according to the source.

In addition to the site plan, the commission also recommended a subdivision of the property, a zoning-map amendment, a reduction in available parking spaces, and a business planned development and special-use permit for the existing building and bank. All of these measures will need to be approved by the board for the project to proceed, the source reported.

Headquartered in Lake Forest, Ill., Metro Storage is a privately owned, fully integrated real estate operating company specializing in the development, acquisition and management of self-storage facilities nationwide. It operates about 100 self-storage properties in 11 states comprising more than 6.5 million square feet.

Sources:

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