Users Pay $38 Per SF to Buy Buildings

LAKE ZURICH, IL-Two industrial assets in this suburb as well as nearby Wauconda have changed hands recently in separate deals totaling more than $2 million, averaging $38 per sf. Harris Bank of Barrington financed both purchases by users with mortgages at 5.75%, according to property records.

Magil Corp. bought a 42,000-sf building at 500 Oakwood Rd. here for $1.32 million. The supplier of hydraulic motors and equipment for elevators is expanding and relocating from 805-15 Oakwood Rd. Paine/Wetzel · ONCOR International SVP Stuart L. Rosenberg represented the private partnership that sold the property.

In Wauconda, Newport Design Co. paid $729,000 for a 11,960-sf portion of a building at 1285 Kyle Ct. Paine/Wetzel · ONCOR International senior associate Dan Jones and associate Daniel J. Benassi represented the seller, while Diane Dalbke of Baird & Warner handled negotiations for the kitchen installations distributor.