CHICAGO—Thetight industrial market in northwestern suburban Schaumburg hasattracted another user/investor. SamwonTech, an industrialmetal fitting supplier and manufacturer, has just purchased a98,456-square-foot industrial building at 1261 WileyRoad for $5.15 millionand plans to occupy part of it.
Built in 1983, the 11-unit property isfully-leased to tenants such as Sherman Williams,Prism Healthcare and the KamanCorporation. Lee & Associates, abroker-owned commercial real estate firm, represented both sides inthe negotiations.
“The buyer liked the ability to occupy a portionof the building while at the same time having the rental income ofa fully leased building,” says Senior Associate RonanRemandaban of Lee's Chicago office. He represented Samwon,the subsidiary of a S. Korea-based company. The seller,Wiley Road Industrial Park LP, was represented byPrincipal John Sharpe. “The visibility of thebuilding off of I-90 and the proximity to Schaumburg area amenitiesalso made this an attractive purchase,” Remandabanadds.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
