Industrial Assets Near Airport Land Buyers

CHICAGO, IL-Three smaller industrial properties in suburbs on different sides of O’Hare International Airport have sold for an average of $38 per sf. The assets changing hands are in Bensenville, just west of the airport, Melrose Park to the south and Schiller Park to the southeast.

Golden Foods Inc. paid $1.51 million for a 33,505-sf building at 819 Industrial Dr. in Bensenville, which had been owned by Yonkers, NY-based BMW Machinery Co. Inc. Bank One provided an $856,020 mortgage, according to property records.

Eclipse Lighting Co. paid $880,000 for a 20,110-sf building at 9245 Ivanhoe in Schiller Park. The company is moving from the Avondale neighborhood on Chicago’s Northwest Side.

HVAC contractor CSM Mechanical has sold a 30,700-sf plant at 2055 N. 25th Ave. for $850,000 to Hoffman Estates-based The Crown Group, which plans to redevelop the Melrose Park property.

“They recognized the demand for functional properties in the near western suburbs of Cook County and realized a good opportunity,” explains Grubb & Ellis Co. senior associate Larry Goldwasser, who represented CSM Mechanical.

Paine/Wetzel-ONCOR International SVP Donald S. Jaffe and VP Robert J. Morandi represented Golden Foods, while Bagher Modir of America 1st Realty handled negotiations for the seller. John McGuinnis of NAI Hiffman represented The Crown Group in its Melrose Park deal.

Paine/Wetzel-ONCOR International senior vice president Stuart L. Rosenberg.