TINLEY PARK, IL-Podolsky Northstar sold a 100,000-square-foot industrial building here that had been taken into receivership in February. The Southpoint 1 facility sold to Middletown, RI-based KVH Industries, the sole occupant that had leased 40%, for about $4.3 million.

Podolsky was appointed receiver, property manager and broker agent by lender Lincoln Financial Group, which had taken over five properties in February after foreclosure. The portfolio includes the recently sold facility, as well as Southpoint II, an empty 100,000-square-foot building.

The two buildings are in the Tinley Crossings Corporate Center. The other three buildings include the nearly-vacant 70,000-square-foot industrial building at 3600 Thayer Ct. in Aurora, and two fully leased buildings at 554 Territorial Dr., Bolingbrook, IL and 7330 Madison St. in Willowbrook, IL, both totaling about 40,000 square feet.

 Randy Podolsky, managing principal of the firm, says the sale shows that there is still value out there for buyers. “A seller may not get more than replacement cost, but at least lenders aren’t giving properties away,” Podolsky tells GlobeSt.com.

Podolsky and Adam Tarantur, VP, represented the lender in the transaction. Larry Johnson with CB Richard Ellis represented KVH.