$1.288 Million Sale
Arranges Disposition of Bank Owned Oakbrook Terrace Office Building
Podolsky|Circle CORFAC International’s Middle Market Investment Team, comprised of Principals John R. Homsher, CCIM and Alissa Adler, represented a regional bank in the $1,288,000 sale of a vacant 24,000 sq. ft. office building located at 17W240 22nd Street, Oakbrook Terrace, IL.
The 3 story multi-tenant building was sold to a private investor who will occupy approximately 5,000 sq. ft. of the building and plans to lease the remainder of the space to unrelated parties. The new owner is also exploring adding retail space to the ground floor.
“This asset’s flexible floor plans and suite sizes provide a unique ability for an owner/user to create cash flow,” explained Homsher. “Its proximity to I-88 and I-294 as well as Oakbrook Center and other retail amenities, along with signage on 22nd Street viewed by 44,000 vehicles daily, will serve to accelerate the lease up of the building and will benefit future tenants.”