(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.

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