MK Asset acquires two industrial buildings, sells retail center

CHICAGO - MK Asset Investment recently acquired industrial properties in Franklin Park and Waukegan, and sold a retail center in Round Lake Beach for a combined total of more than $10 million.

An affiliate of MK Asset Investment acquired 11608 Copenhagen Drive in Franklin Park. The 87,500 square foot industrial property, with 1,500 square feet of office space and an 86,000-square-foot warehouse is situated on 5.95 acres. MK Asset will add new docks and implement additional warehouse upgrades including enhancing the lighting and repainting the warehouse to effectively reposition the property.

An affiliate of MK Asset Investment also acquired 1850 S. Lakeside in Waukegan. The 35,500-square-foot industrial building, with approximately 12,000 square feet of office space, is located within the Amhurst Industrial Park. The property contains specialized lab space, providing product for unique users that require full air conditioning and more than 8,000 amps of power.

MK Asset Brokerage sold the 61,685-square-foot Eagle Creek Shopping Center at 308-400 Rollins Road in Round Lake Beach to a private investor. An affiliate acquired the shopping center in December, 2013, and embarked on a comprehensive capital improvement program including installing a new roof, completing deferred maintenance on the building and parking, updating the look of the center, and pursuing and receiving a No Further Remediation letter from the EPA for a historical on-site cleaner. The improvements enabled their leasing team to extend and renew leases, including that of its anchor tenant Big Lots.