X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ELK GROVE VILLAGE, IL-Two users have acquired industrial properties in this suburb on the edge of O’Hare International Airport. ChemPlate paid $2.5 million for a 72,270-sf building at 1800 Touhy Ave., while the Salvation Army picked up a 60,000-sf building at 1000 Pratt Ave.

Not only did the company pay less than $35 per sf, ChemPlate gets 3.5 acres with the deal, making the location especially attractive. The Salvation Army plans to use its building as a disaster recovery center.

Although a purchase price was not available, the Cook County Assessor’s office places a market value of $2 million on the property.

The firm of Colliers Bennett & Kahnweiler Inc. was involved in both deals. Principal David A. Bercu and Ronald J. Behm represented ChemPlate, while VP Matthew J. Stauber represented Tuthill Corp., which acquired the property in 1997 for $2.1 million.

Bercu and Stauber represented Cohen Financial, which paid $1.8 million for the property in 1996. RE/MAX broker Lee Dominquez represented the Salvation Army.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.