NAI Hiffman, the Midwest’s leading independent commercial real estate firm, today announced the sale of 18424 NW Frontage Road in Joliet for $1.5 million. The transaction, from initial letter of intent (LOI) to final closing, was completed in less than one month, highlighting the strong demand for industrial outdoor storage (IOS) properties in the Chicago area.
The Disser Team, comprising Executive Vice Presidents Kelly Disser and Mike Freitag, Senior Associate Bill Byrne and Associate Broker TJ Feeney, represented the seller. The seller and buyer are both privately owned trucking companies.
“We enabled both the seller and buyer to accomplish their objectives with a timeline that is uncommon,” said Disser. “The quick turnaround created challenges, but all parties involved contributed to the successful transaction. Initially, the seller intended to lease the property in order to maintain cash flow through the investment. Instead, we structured the transaction for the seller to create cash flow by financing the deal.”
The 7-acre, fenced and secured site features an 11,000-square-foot repair facility with four repair bays and approximately 100 trailer parking positions. Its strategic location 15 miles north of the CenterPoint Intermodal facility — North America’s largest inland port — and near Interstates 55 and 80 enhanced the property’s marketability.
According to NAI Hiffman Research Services, the demand for IOS properties is surging, driven by the growth of e-commerce and Chicago’s proximity to vital port infrastructure and major highway networks. This trend is evident in the market’s transaction volume: 24 IOS deals closed in the Chicago area in 2024, up from 21 in 2023 and six in 2022. Three have already closed so far in 2025.
About NAI Hiffman:
NAI Hiffman is one of the largest independent commercial real estate services firms in the U.S., with a primary focus on metropolitan Chicago, and part of the NAI Global network. The firm provides institutional and private leasing, property management, tenant representation, capital markets, project services, research and marketing services for owners and occupiers of commercial real estate. To meet its clients’ growing needs outside of NAI Hiffman’s exclusive territory, the firm launched Hiffman National, a dedicated property solutions division, which provides property management, project services and property accounting services across the country. NAI Hiffman | Hiffman National is an award-winning company headquartered in suburban Chicago, with more than 275 employees strategically located throughout North America.
The Disser Team at NAI Hiffman successfully brokered the sale of 18424 NW Frontage Road in Joliet, Ill., in less than a month from the signing of letter of intent to closing. The buyer and seller are both privately owned trucking companies.