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LAKE BLUFF, IL-Helio Precision Products has renewed its 110,600-square-foot lease at 3601 N. Skokie Hwy. The country’s valve guide producer and precision components supplier to automotive and trucking industries has signed long-term for the manufacturing and office space at CenterPoint Properties Trust’s 540,000-square-foot industrial facility. Keith Puritz, Brett Kroner and Bob Reaumond, all with CB Richard Ellis, negotiated the deal, but declined to comment on the transaction.

The building, which was constructed in 1954, is now about 40% leased, with 326,000 square feet available to lease at asking lease rates around $5 per square foot, gross, according to CBRE. The property, within the CenterPoint Business Center, offers warehouse space with over-sized bays and 20-foot clear ceilings, as well as several hundred parking spaces and heavy trailer parking. About 19 acres of the 54-acre site remain available, allowing for tenant expansion needs or excess car and trailer parking, or a new build-to-suit.

The property, which is minutes from an Interstate 94 interchange and has Skokie Highway/Route 41 exposure, is about 35 miles north of Chicago in Lake County. Asking lease rates in the Lake County submarket ranged from about $6 to $11 per square foot, according to Cushman & Wakefield market research, with an overall vacancy rate around 93% that quarter.

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