Sitex Realty purchases O’Hare industrial facility
May 26, 2010 | Staff Writer | Print Article | Email this Article
NAI Hiffman has brokered the sale of a 54,060-square-foot industrial facility, located at 850 Lunt Avenue in Elk Grove Village, Ill., to local real estate investor Sitex Realty Group for an undisclosed price.
The seller was Timpe Limited Partnership, a Woodstock, Ill.-based private owner. The facility includes four interior truck docks with 18 foot clear height and has 44 parking spaces.
Larry Goldwasser, vice president and Jay Maher, associate with NAI Hiffman’s Industrial Services Group, represented the seller, Timpe Limited Partnership.
NAI Hiffman has been retained to market the building for Sitex Realty Group. Currently, plans are in place to renovate the building’s facade, office space, warehouse lighting, mechanicals, and parking lot. Sitex Realty Group was also able to obtain the Cook County 6B tax incentive based on the building’s vacancy.
“We are very excited to work on this project because we are able to market a building with a significant amount of capital improvements at an aggressive rental rate,” said Jay Maher.
Tags | Chicago, industrial, NAI Hiffman, sale, Sitex Realty Group
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I may have a client for this building for purchase, we will be out looking in the Fall. How much office space? Do you know what the asking price is yet?