Not only did the company pay less than $35 per sf, ChemPlate gets 3.5 acres with the deal, making the location especially attractive. The Salvation Army plans to use its building as a disaster recovery center.
Although a purchase price was not available, the Cook County Assessor's office places a market value of $2 million on the property.
The firm of Colliers Bennett & Kahnweiler Inc. was involved in both deals. Principal David A. Bercu and Ronald J. Behm represented ChemPlate, while VP Matthew J. Stauber represented Tuthill Corp., which acquired the property in 1997 for $2.1 million.
Bercu and Stauber represented Cohen Financial, which paid $1.8 million for the property in 1996. RE/MAX broker Lee Dominquez represented the Salvation Army.
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