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MOUNT PROSPECT, IL-The 640,000-sf industrial and office building that Santa Clara, CA-based 3Com paid $100 million to renovate has sold for the second time in three years. Chicago-based Franklin/JDI Central, LLC, which bought the property on 41 acres at 1800 Central Ave. for $18.2 million last year, sold it to a joint venture of Wilton, CT-based Commonfund Realty, Inc. and Golub & Co.

The most recent purchase price was not disclosed, but a $20-million mortgage had been placed on the property that is 65% vacant. The property was not actively marketed.

Robert Bosch Tool Corp. is the sole tenant at the property, occupying 222,000 sf following a relocation from Chicago’s Northwest Side.

John Ferguson, Golub’s senior vice president of marketing, leasing and asset management, says the renovations as well as a location near a large labor pool should be attractive to potential tenants of the 418,000 sf that is available for lease. “The renovation by 3Com elevated 1800 Central to the high end of Chicagoland’s industrial/office flex-space buildings,” he says.

Matthew J. Stauber and David Kahnweiler of Rosemont-based Colliers Bennett & Kahnweiler is handling leasing of the building. Golub & Co. is the property manager.

The joint venture partners also teamed up to buy the 350,000-sf 1603 Orrington Ave. in Evanston.

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