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LOMBARD, IL-Mokena-based developer LFI International has bought 13.3 acres in the North Avenue industrial area here, with plans to build as many as three industrial buildings ranging in size from 50,000 sf to 250,000 sf. The $3-million deal involves the sale of 11.1 acres by ICE Realty Group, Gallagher Realty and TCB Development, while the Village of Lombard is contributing 1.9 acres for an access road from Lombard Road.

In addition, the deal includes 2.4 acres of Commonwealth Edison land, which will be used for storm water retention. “These three pieces work together to provide a developable parcel that allows for efficient building layout, smooth traffic flow, offsite detention and the flexibility for additional parking and/or storage of cars, truck/trailer or products,” says ICE Realty Group president Jonathan Malm.

ICE Realty Group, Gallagher Realty and TCB Development spent two years working out a planned development with village officials before selling to LFI International, who has an undisclosed build-to-suit client keenly interested in the site a mile east of Interstate 355. “Not to sound too cliché, but it really was an offer we couldn’t refuse,” Malm tells GlobeSt.com. “It was a win-win. There’s nothing like infill properties.”

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