ACG Takes on Distressed in 25% Vacant Market

ROSEMONT, IL-The private new owner of 180,000-square-foot office building 6400 Shafer Ct. here has hired ACG Management to lease out the property, located at the intersection of Higgins Road and Interstate 294. The management firm had also represented both the buyer and seller TSLF Shafer LLC when the seven-story building traded hands for $11.5 million in April.

Paul Muessig with ACG says the seller was the lender that had taken back the deed to the 63%-occupied property. The previous owner had bought the building for more than $21 million, Muessig tells GlobeSt.com. “Because of the way this traded at a good price, the operator doesn’t need to get as high of rent as other buildings in the area,” he says. His company also negotiated private financing for the buyer, which included two tiers of seller-provided debt. James Webber with ACG represented the buyer in the transaction.