The building was constructed in multiple phases beginning in1958 and has about 66,000 sf of office space. The building iscurrently 85% leased, Walsh says. Tenants include Bodine Electric,Alstyle Apparel, Heltzer and the city of Chicago. However, Bodineplans to relocate its manufacturing to Iowa and may reduce theamount of space it leases from 130,000 sf to about 40,000 sf, Walshsays. The asking lease rate is $5 per sf, net. Ronan Remandaban,with Lee and Associates, will lease the building.
The opportunity was brought to Wrightwood by Saxony Capital andLee and Associates, Walsh says. "It is on 20 acres of land right inthe middle of the outskirts of Lincoln Park," he says. The buildingwas acquired for Wrightwood's Industrial Property Fund III, whichhas 20 properties and an estimated value of nearly $200 million,Walsh says.
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