(To read more on the industrial market, click here.)

SOUTH HOLLAND, IL-Taft Industrial Partners, LLC, a group led by Deerfield-based Schnoll & Co., has paid nearly $2.5 million for a four-building, 106,040-sf industrial development here. The buildings, about 30 years old, will undergo renovations as the new partnership attempts to increase occupancy from 54%.

Venture One Real Estate principals Steven J. Goode and Roy L. Plansky represented Chicago-based Taft Realty Associates, LLC, which had owned the south suburban property near the intersection of Halsted and 162nd streets since 1986. Taft Industrial Partners financed its purchase with a $2.1-million mortgage from Shorebank, according to property records.

Located on 6.1 acres at 500-66 Taft Dr., the industrial buildings can be divided into as many as 39 units, as small as 1,800 sf. Ceiling heights are 14 feet, and units have office space. Schnoll & Co. is marketing the 49,150 sf available space there at a net lease rate of $7 per sf.

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?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & 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 © 2024 ALM Global, LLC. All Rights Reserved.