The sale has been ordered by US Bankruptcy Court Judge John D. Schwartz, who is overseeing the liquidation of heavy machinery manufacturer of Sherman-Reynolds, Inc.
The one-story building and 12,426-sf site is in a planned manufacturing district, according to Millennium Properties, with light industrial, office, production and retail sales among the permitted uses. Although Sherman-Reynolds controlled six parcels at Carpenter and Kinzie streets, the Cook County Assessor's office places a market value of $441,000 on the properties. Less than a year ago, a two-story, 9,500-sf building at 448 N. Halsted St. sold for $685,000, according to property records.
Meanwhile, Hyman recently brokered the sale of a 2,701-sf commercial-zoned site at 1301 N. Clybourn, which had been listed for sale at $360,000. The seller, Chicago Community Foundation, had received the vacant lot as a gift.
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