"[Industrial sites] are very rare in the O'Hare market, and sellat a premium if they are available," says Jack Shaffer, chairman ofHSA Commercial. "The O'Hare industrial market vacancy is currentlybelow 5% and has been below 6% for the last three years. The demandfor high-cube space is exceeding the supply."

The acquisition is valued in excess of $40 million, including atax-increment financing bond granted by the Village of FranklinPark in the amount of $8.2 million. "The TIF will offer help withthe high cost of providing a new access road to River Road, as wellas the refurbishment of existing buildings in the park," notesMayor Daniel Pritchett of Franklin Park.

Originally owned by Duo-Fast, a maker of fastening equipmentthat has since left Franklin Park, the existing industrial buildingwas built in stages between 1961 and 1978. It is currentlysubdivided and fully leased, with major tenants including HARTechnologies, Arcor Inc., Dulin Metals Co. and Gabby's BagelsInc.