KTR Capital Partners closes on warehouse
KTR Capital Partners recently closed on the acquisition of 10800 West Belmont Ave. in Franklin Park, three miles south of O'Hare International Airport.
The manufacturing and warehouse facility, which formerly produced Werner ladders and employed close to 900 employees, is approximately 671,000 square feet and sits on a 31-acre parcel.
The building was purchased from Werner Co., a group lead by Black Diamond Capital Management LLC.
It is divided into four units, two improved for manufacturing and two used for distribution and warehousing.
NAI Hiffman's Industrial Services Group, the only broker in the transaction, represented KTR in the purchase.
The team will now proceed with the task of filling the vacant industrial space in the facility.
"Our immediate plans are to capitalize on the many attractive features of the existing facility as part of a multi-tenant conversion," said John P. DiCola, partner at KTR.
"Longer term, the property has a great presence along I-294 and will be an excellent redevelopment opportunity," he added.
Financial terms of the transaction were not disclosed.
Soap suds: Local restaurant operators recently purchased a self-serve car wash located in Elmhurst for $950,000.
Located at 828 North York Road in the commercial corridor of North Elmhurst, it is the only self-serve car wash in the City of Elmhurst.
It houses seven car bays and one truck bay, totaling 3,148 square feet.
Inland Real Estate Sales Inc. brokered the sale on behalf of the seller, a private investor based in Elmhurst who has owned the car wash since 1993 and is now retiring.
Remax Preferred Properties co-brokered the sale for the buyers, a partnership including owners of Yorky's Fast Food, located across the street from the car wash at 836 North York Road.
Larger lease: CrossCom National recently completed the lease of a 60,014-square-foot industrial building, located at 900 Deerfield Parkway in Buffalo Grove.
CrossCom National has leased the space for the relocation of their business, which specializes in the distribution services of communication networks.
The company moved from its previous location, already in Buffalo Grove, to this new property with more efficient space.
Paine/Wetzel Oncor International and Entre Commercial worked on behalf of the tenant in the transaction.
Financial terms were not immediately available.
Discreet deal: An 8,000-square-foot industrial building recently changed hands in a private transaction.
The building, valued at $650,000, is located at 630 Morse Ave. in Schaumburg.
Epic/Savage Realty Partners represented the seller, while Dewitt Cole of Morken & Associates represented the buyer.