CHICAGO, ILLINOIS JULY 2022 – Westport Properties, a premier owner/operator of self storage, industrial, and multifamily assets nationally, has acquired an 885-unit self storage facility located at 1516 N. Orleans A in Chicago, Illinois and a 378-unit self storage facility located at 3510 Wilmette Avenue in Wilmette, Illinois. Westport Properties will rebrand the property under the US Storage Centers brand and currently operates over 10 million rentable square feet of self storage facilities. These are the firm’s first two properties in Illinois.
“With our recent expansion we have often considered Illinois and other Midwest states,” said Charles Byerly, CEO of Westport Properties. “We were presented an opportunity to enter the Chicago market with our first two properties and we moved forward because of the area’s strong fundamentals.”
1516 N. Orleans A is ideally located on Chicago’s Northside. It features wine storage, climate-controlled units, electronic gated access and 24-hour video surveillance.
3510 Wilmette Avenue is located just minutes from the Edens Expressway (I-94) on Chicago’s North Shore, providing convenient access to neighboring communities. It features RV/boat parking, climate-controlled units, electronic gated access and 24 hour video surveillance.
MJ Partners Self Storage Group represented the seller in the transaction. MJ Partners, founded in 1993, has been involved in over $3 billion in transactions throughout the United States representing private and public companies, developers, private equity, family offices and lenders in the acquisition, disposition, financing, consulting and asset management.
About US Storage Centers
Founded in 1985, Westport Properties (“WPI”) is an owner-operator of self storage, multifamily and industrial properties across the United States. The Company is a fully integrated operator that develops, acquires and manages its portfolio as well as providing third-party management services. As of January 2022, WPI has approximately 12 million square feet of self storage space under management and its total assets under management is approaching $2.5 billion with its US Storage Centers brand as well as over 750 multifamily units in two states while employing over 600 people nationwide. WPI is a founding partner of the 501(c)3 Kure-It, a non-profit organization that raises money for underfunded cancer research, and Charity Storage, a 501(c)3 that uses vacant storage units to raise money for local charities. To date, Kure-It has raised over $12M and Charity Storage has raised over $500K.