Schaumburg group to auction off Downers Grove property
DK Realty Partners LLC, a nationally operating commercial and investment real estate brokerage company based in Schaumburg, said Monday it will auction a one-story 47,590 square foot, multi-tenanted building at 1441 Branding Lane in Downers Grove known as Branding Corporate Center.
The auction will take place on Tuesday, Nov. 9, at The Union League Club of Chicago, 65 W. Jackson Blvd. in Chicago.
Registration is at 9:30 a.m. with bidding starting at 10:30 a.m. The opening bid will be $4.5 million.
This 100 percent leased investment property was built in 1988. It is comprised of 80 percent office space and 20 percent warehouse space and is situated on a 3.02 acre site. It has 155 parking spaces. The building is ½ block southeast of Finley and Butterfield Roads in Downers Grove with quick access to the I-88 East-West Tollway and I-355.
“This is a perfect example of excellent real estate being sold through the auction method of sale, said David Kaufman, managing member of DK Realty Partners. “ The property has been 97 percent occupied over the course of the seller's ownership of the property spanning the last nine years. The building's largest tenant, Advocate Health Services, occupies 21,079 square feet and recently renewed their lease for a new seven-year term.
Online bidding is also available. For more information see, www.dkrealty.com/auction