Article Sourced from REJournal
Brown Commercial Group sold a 24,483-square-foot industrial property located in West Chicago, Illinois, the firm said Friday.
The Elk Grove Village-based company said financial details of the deal weren’t disclosed, but that the seller of the property, located at 385 Wegner Road, was represented by Mike Antonelli, vice president of sales for Brown. The buyer, AMREJ Properties, LLC, was represented by Darwin Realty‘s Brendan Sheahan, an associate.
The vacancy rate in the west suburban market has been below 7 percent for several quarters, with some areas seeing rates below 6 percent. This free-standing property has a modern image and amenities like high ceilings, two loading docks and heavy power capacity. The firm said there were multiple offers.
“Many business owners are looking long-term at their space needs and moving toward purchasing instead of leasing,” Antonelli said. “High-quality properties like this are in high demand and will continue attracting much interest.”