Meanwhile, in far northwest suburban Cary, a 65,000-sf warehouse at 740 Industrial Dr. has sold for $2.7 million.
After paying less than $50 per sf for the asset, CenterPoint Properties Trust plans to renovate the building with more than 22 feet clear height and find a tenant, according to the Bannockburn office of CB Richard Ellis.
Brett Kroner and Keith Puritz of the firm were sole brokers in the sale of the both properties. Anne Dempsey was part of the CB Richard Ellis team on the Cary deal.
The Niles property includes 3.8 acres. The Cary building was leased to six tenants at the time of sale to a limited liability corporation. The deal was financed by a $2-million loan at 5.5% from Harris Bank of Huntley, according to property records.
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