Schaumburg property sells for $2.67 million
Podolsky Circle CORFAC International announced the sale of 1000 E. State Parkway in Schaumburg.
The Des Plaines-based Podolsky Circle middle market investment advisory team comprised of Managing Principal Alissa Adler, Principal John Homsher and Senior Vice President Paul Tesdal, represented the seller, Clear Height Properties, in the transaction.
The property was sold to a high-net-worth investor for $2.67 million.
The property is a 43,800-square-foot, office/flex building located in Woodfield Business Center.
"The buyer saw the intrinsic value of a well-maintained and strategically located asset with stable, long-term tenants, full occupancy and limited capital requirements," said Homsher. "The lack of similar single-story, office/flex assets on the market bolstered the appeal of 1000 E State Parkway. The property represents a significant void in the market and this product type is simply not being replicated."
Clear Height Properties is a real estate investment and management company headquartered in Chicago.
Kelly Joyce of Colliers International represented the buyer in the transaction.