GoldCoast Logistics Headquarters
Industrial / logistics property in Elgin, IL — sponsored by Kingsbarn Realty Capital
Files with the SEC as KB Chicago Logistics, DST
Minimum investment
$248k
Offering size
$24.8M
How much has sold
99.0%
Asset type
Industrial / logistics property
Location
Elgin, IL
Financing
Not stated. The filings for this offering do not say whether it carries mortgage debt.
Sponsor-reported, from SEC filings and cited sources.
What is this, in one paragraph?
GoldCoast Logistics Headquarters is a Delaware statutory trust — a structure that lets 1031 exchangers hold fractional real estate — owning a single-tenant industrial building in Elgin, Illinois, sponsored by Kingsbarn Realty Capital. Kingsbarn announced in September 2023 that it bought the 2022 build-to-suit from GoldCoast Logistics Group in a sale-and-leaseback and leased it back on a 20-year triple-net lease.1
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These links support the historical public record; individual details may come from different sources.
On a 45-day clock? Find day 45 and day 180 from the sale date, then come back to this record.
What exactly is the property?
GoldCoast Logistics Group's headquarters at 1425 Madeline Lane in Elgin, Illinois was completed as a build-to-suit in 2022.1 Kingsbarn announced on September 27, 2023 that it acquired the building from GoldCoast in a sale-and-leaseback.1 STREAM Capital Partners, which brokered the transaction, reported a $20.5 million price — about $331 per square foot — for the building on 5.06 acres.2
- Reported location
- Elgin, IL
- Property size
- 61,888 sq ft
Who is the tenant, and what's the lease?
GoldCoast Logistics Group signed a 20-year triple-net lease at the sale-leaseback, meaning the tenant, not the Trust, carries taxes, insurance and maintenance.1 Kingsbarn also reported that the lease provides for 2.5% annual rent increases.1
How did it end?
Closed to new investment · still operating
KB Chicago Logistics, DST acquired GoldCoast Logistics Group headquarters at 1425 Madeline Lane, Elgin, IL via sale-leaseback in September 2023 with a 20-year triple-net lease; as of June 2026 the property is actively listed for sale on LoopNet (Listing #36377973) and NAI Global, indicating the DST still owns the asset and is attempting to dispose of it, with no completed full-cycle sale found.
61,888 SF single-tenant industrial/logistics facility at 1425 Madeline Lane, Elgin, IL, built-to-suit in 2022 for GoldCoast Logistics Group on a 20-year triple-net lease.
61,888 sq ftSupporting evidence
Counted on Kingsbarn Realty Capital’s Record Card as: Still operating Document
How is it financed, and what does it pay?
Neither the Form D nor the public reporting reviewed states a mortgage on the property, so whether the Trust used leverage is not established in the public record. The Form D does disclose a financing and acquisition fee payable to the sponsor or an affiliate.3
Who's behind it?
Kingsbarn Realty Capital is a repeat sponsor of 1031 exchange programs across net-lease and industrial property, and here it stepped in as the buyer in a sale-and-leaseback with the operating company that occupies the building.1 Its SEC filing name for this Trust differs from the property's marketing name, a common convention that makes these offerings hard to trace back to a building.
- Sponsor
- Kingsbarn Realty Capital
- Legal Trust name
- KB Chicago Logistics, DST
- May convert to a REIT
- No
- Offerings from this sponsor
- 10 active / 31 total offerings from Kingsbarn Realty Capital
Reported by the sponsor. Top1031 does not independently audit sponsor-reported figures.
What does the paperwork say?
The Trust filed one new-notice Form D reporting a first sale on September 25, 2023, and no amendment has followed.3 It claimed Rule 506(c), the exemption that lets a sponsor advertise an offering publicly so long as every investor's accredited status is verified.
- Form D filedFirst and latest filing on record.
- Filings on record
- 1
- How it may be offered
- Rule 506(c)May be advertised publicly. Every buyer’s accredited status must be verified.
- Source filing
- Read the filings on SEC EDGAR
A Form D is the notice a sponsor files when it starts raising money. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
DST interests are illiquid private securities. You may lose some or all of your investment. Distributions, tax treatment, and exit timing are not guaranteed. Review the current Private Placement Memorandum before investing.
Common questions
What happened to GoldCoast Logistics Headquarters?
Top1031 lists GoldCoast Logistics Headquarters as historical. It is no longer raising money.
Where does Top1031 get the data for GoldCoast Logistics Headquarters?
Top1031 builds this record from the sponsor’s own SEC filings and cited sponsor disclosures. Filings can lag what is happening now. A Form D filing does not mean the SEC approved, endorsed, or verified the offering.
What does this Trust actually own?
A single 61,888-square-foot industrial and logistics building at 1425 Madeline Lane in Elgin, Illinois, west of Chicago. STREAM Capital Partners, the broker on the sale, reported the building sits on 5.06 acres in a business park.[2] Kingsbarn reported the building was completed as a build-to-suit in 2022 for GoldCoast Logistics Group.[1]
Who is the tenant, and what does triple-net mean here?
GoldCoast Logistics Group, the company the building was built for, sold it to Kingsbarn and leased it back for 20 years on a triple-net basis, with 2.5% annual rent increases, according to Kingsbarn's September 27, 2023 announcement.[1] Triple-net means the tenant pays property taxes, insurance and maintenance directly rather than the landlord absorbing them. Whether GoldCoast remains in occupancy today is not established in the public record.
How large was the Offering and what was the minimum?
The Form D filed November 13, 2023 reports a total offering amount of $24,765,000, structured as 100 Class 1 beneficial interests at $247,650 each, with a $247,650 minimum for outside investors.[3] The same filing discloses a $1,440,000 financing and acquisition fee to the sponsor or an affiliate plus $127,650 in reimbursed offering expenses.[3]
Is the building currently on the market?
Public marketing records show the address listed for sale. A Crexi record from NAI Hiffman displays 1425 Madeline Lane as for sale, single-tenant and net-leased, with no asking price stated.[4] A LoopNet listing shows the same building as for sale.[5] No completed sale or other exit outcome for the Trust is reported in the sources reviewed.
Is there debt on the property?
Not established publicly. The Form D does not state property-level debt, and no loan amount, lender or maturity appears in the sponsor announcement or third-party coverage reviewed. An investor would look to the private placement memorandum — the offering document that discloses the deal's full terms — for the financing structure.
Chapter 9Kingsbarn Realty Capital Purchases Logistics Company Headquarters in IllinoisPress release announcing the purchase of the GoldCoast Logistics HQ at 1425 Madeline Lane, Elgin, IL. Kingsbarn Realty Capital Acquires 61,888 SF Industrial Facility in Elgin, IllinoisKingsbarn acquired the GoldCoast Logistics headquarters at 1425 Madeline Lane, Elgin, IL for the KB Chicago Logistics DST on a 20-year triple-net lease.