Brown Commercial completes industrial sale in Chicago suburbs
Brown Commercial Group has completed the sale of a 12,000-square-foot industrial building at 1800 N. 15th Avenue in Melrose Park, Illinois. The property is on 0.3 acres with close proximity to North Avenue and Chicago’s O’Hare International Airport, a desirable location for many manufacturing and distribution tenants. Brown Commercial senior vice president Trinity Scurto represented the seller, Dune Manufacturing, which is closing its business. The buyer, a private investor, will demolish the older building and redevelop the property for modern industrial use. Romanelli Associates’ Donald Romanelli represented the buyer in the transaction. “The Chicago suburban industrial market continues to see strong demand and a shortage of inventory, leading some investors to focus on redeveloping older industrial properties,” said Scurto. “The return on investment on these properties is high given the demand for modern buildings in strong locations.””
