Midwest Industrial Lets Go of Illinois Warehouse
- May 29, 2017
Midwest Industrial Funds, which has recently acquired a warehouse in Huntley, Ill., has also traded one of its industrial properties—a 76,000-square-foot building in Cary, Ill. The buyer is an affiliate of Illinois Lift Equipment, which is expanding and moving its operations from West Chicago.
Principals & Co-Founders of Entre Commercial Realty, Daniel Jones and Daniel Benassi, together with Michael DeSerto, a broker with the company, facilitated the sale on behalf of Midwest Industrial. Steve Morken, president & owner of Morken & Associates, represented the buyer.
Midwest Industrial bought the property at 640 Industrial Drive in 2015 for $750,000, according to PropertyShark. The company demolished a portion of roughly 60,000 square feet and completely repositioned and modernized the rest. The building now features a new custom exterior entrance, new painting, an improved drainage, new dock doors, new energy-efficient windows, HVAC system as well as enhanced lighting and landscaping.
The site is part of the Cary Industrial Center business park and is visible from the Northwest Highway.
Image courtesy of Midwest Industrial Funds