Podolsky|Circle Completes Crane Building Sale While in Receivership
Podolsky|Circle Completes Receivership Property Sale; Wauconda Crane Building Sold While in Receivership
Podolsky|Circle CORFAC International has announced the completion of the sale transaction of a 10,329 square-foot crane building located at 358 Hollow Hill Road in Wauconda, IL. Adam J. Tarantur, a Principal with the firm, represented the Receiver in the transaction. The building had been under receivership for over two years at the time of sale. Randy D. Podolsky, SIOR, was acting as court-appointed Receiver.
The purchaser, Hollow Hill Properties, LLC (Euro Machine Tool Company), will use the unique property for machinery repair and sales. A rare clear span crane facility for Lake County, the building, sits on approximately 40,000 square feet within the Wauconda Industrial Park. In addition to a 20 ton crane, it features one dock, one oversized drive-in door, 27’6” ceilings and 1,350 square feet of attractive office space. Expansion possibilities exist for both the building and parking area.
“We were able to find the right buyer for this unique property,” said Tarantur, “in that they needed the infrastructure, and we had a property that fit their present requirements and will serve them well going forward.”