Podolsky|Circle Completes Bank-Owned Property Disposition
Schaumburg Professional Building Bought by Pediatric Endocrinologist
Podolsky|Circle CORFAC International Principals Randy D. Podolsky and Adam J. Tarantur, CCIM, have represented a regional bank in the user/investor sale of a 12,726 sq. ft. medical building in the heart of Schaumburg’s historical downtown area. This sale is the latest in a long line of transactions Podolsky|Circle has completed for various lenders over the past few years.
Podolsky was originally hired by the court as Receiver and found a user to buy the building very shortly following the foreclosure. Within that time frame, Podolsky|Circle’s Management Team made substantial improvements to the building, which had been neglected for some time. Meanwhile, Tarantur renewed two tenants, maintaining the property’s value for the lender.
“This is a prime example of Podolsky|Circle’s various departments working together as a team throughout an assignment to attain the best results for our client,” stated Tarantur.
The property, located at 129 Roselle Road, Schaumburg, IL, is a two story office building catering to dental and medical professionals. The purchaser, a pediatric endocrinologist, plans to open a clinic in the building.