Podolsky|Circle’s Middle Market Investment Team Hired for Disposition and Leasing of Multiple Suburban Chicago Properties
Podolsky|Circle CORFAC International’s Middle Market Investment Advisory Services Team has been retained by a regional bank as the exclusive agent in the disposition of three properties in the suburban Chicago market. The team is comprised of Podolsky|Circle Principals Alissa Adler and John R. Homsher, CCIM.
- 10711-10785 Wolf Drive aka “Wolf Business Center II” is a 90,000 sq. ft. single-story industrial asset located in Huntley, Illinois. The property provides flex office and warehouse suites from 2,500 sq. ft. to 25,000 sq. ft. and features 18’ ceiling heights and an abundance of docks and drive-in doors. Enhancing its appeal to both warehousing and manufacturing businesses is the property’s easy access to I- 90 by way of a full four-way interchange at Route 47, allowing businesses to easily distribute to local and regional companies. Wolf Business Center II is currently 61% occupied.
- 421 N. Northwest Highway is a 13,011 sq. ft. two-story, multi-tenant building located in Barrington, IL. Five retail suites make up the first floor while the second floor is comprised of private office suites. The 6,000 sq. ft. second floor is ideal for conversion to high end multi-family housing. Based on current zoning, a special use permit is all that is needed to facilitate a second floor conversion to 3 to 6 multi-family units. 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. Office suites range in size from 200 to 2,080 square feet providing leasing options for individuals and small businesses. The lobby features an atrium with a large reception area and grand arched stairway. 509 Old Northwest Highway is currently 61% occupied.
Adler and Homsher have also been awarded the assignment to lease each building’s remaining available suites.
“These assets offer the flexibility to be acquired by either an owner/user looking to relocate their business while procuring additional cash flow from a property or by an investor looking to create value by leasing up the vacant space and stabilizing the properties,” stated Homsher.