The 16-member partnership that sold the 41-year-old building was affiliated with HSA Commercial Real Estate, whose executive vice president and managing director, Tim Thompson, brokered the sale. The acquisition was financed by First American Bank, according to property records.
While the local industrial market is described as "spotty" by CenterPoint Properties Trust co-chairman and chief executive officer John S. Gates, the O'Hare submarket remains among the more robust. "Elk Grove Village is doing very well these days," says Gates at RealShare Chicago.
Centex Industrial Park is immediately west of O'Hare International Airport, where runway configuration is displacing industrial users and tenants.
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