The deal also includes a 99-year ground lease, with nearly half its term remaining. Slater Steel, which produces specialty steel products, assumes the remaining 49 years left on the ground lease.
The property at 12228 New Ave. also includes 55 acres in addition to an electrical substation, water tower and pumping station. Located along the Chicago Sanitary and Ship Canal, the property also has access to BNSF main-line rail service.
NAI Hiffman executive vice president Gerard J. Keating, SIOR, CCIM and associate Benjamin J. Cremer represented Nucor Auburn Steel.
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