Another building in Highland Park, 1770 First St., sold for $199 per sf earlier this year, according to US Equities Realty research. Meanwhile, the one-story building at 300 Center Dr. was 89% occupied at the time of sale, and is located immediately northwest of the Hawthorn shopping center parking lot. Vacancy in the north suburban submarket was 19.3%, according to Grubb & Ellis' third-quarter report.
CB Richard Ellis brokers Ted Buenger, CCIM, and Mike Whisler, CCIM represented Spring Bluff Hawthorn in negotiations with the buyer. The purchase was financed by a $3.8-million mortgage from Home State Bank at 4.25%, according to property records.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.