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CHICAGO-North Development LTD plans to upgrade its recently acquired 60,000-sf building at 2800-28 W. 48th Pl. and find new tenants for the former Graham Paint and Varnish Co. property. Although a sales price was not disclosed, property records indicate the new owners got a $1-million loan from Bridgeview Bank and Trust, at a 4.25% interest rate on the property that had been encumbered with a $2.5-million mortgage.

Paine/Wetzel-ONCOR International SVP Albert Schulman represented Graham Paint and Varnish Co. Mitch Adams of Camin Tomaz Kritt brought North Development LTD to the table.

Schulman also brokered Sparks Auto Parts’ acquisition of a 50,000-sf building at 1335 W. 47th St. The auto part supplier bought the three-story building near 47th Street and Ashland Avenue for additional warehouse space.

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