Middle Market Investment Team
Completes Disposition of Two Suburban Chicago Properties
Podolsky|Circle Completes Disposition of Two Properties
Podolsky|Circle CORFAC International’s Middle Market Investment Advisory Services Team has successfully completed the investment sale of two properties in the suburban Chicago market. A regional bank was the seller.
• 421 N. Northwest Highway is a 13,011 sq. ft. two-story, mixed use multi-tenant building located in Barrington, IL sold for $600,000. Five retail suites make up the first floor while the second floor is comprised of private office suites. 421 N. Northwest Highway is currently 54% occupied.
• 509 Old Northwest Highway, also located in Barrington, IL, is a 12,485 sq. ft. two-story multi-tenant office building with a partial lower level sold for $475,000 to a local investor. Office suites range in size from 200 to 2,080 square feet providing leasing options for individuals and small businesses. 509 Old Northwest Highway is currently 61% occupied. The new owner plans to upgrade and renovate the building in order to reposition it in the marketplace and lease the remaining vacant space.