2
WILMINGTON, ILL. — Silver Creek Development has sold a 2 million-square-foot industrial facility and adjacent land parcel to Michelin North America for $151 million. Located at 29900 S. Graaskamp Blvd. in Wilmington, about 60 miles southwest of downtown Chicago, the regional distribution property sits on a 91-acre site and is fully occupied by Michelin North America. The company uses the property to house inventory serving dealers and automakers throughout the Midwest and western U.S. Silver Creek acquired the property from Transwestern Development Co. in 2021 for $126 million. Pacific Life Insurance Co. provided $81.9 million in financing for Silver Creek’s original acquisition.