Bradford Allen announced that Directors Ryan Moen and John Millner have completed the sale of a 43,516 square foot flex/industrial building at 5201-5241 Thatcher Road in Downers Grove, Illinois.
Moen and Millner represented the seller, Heartland Bank and Trust Company, in the transaction.
5201-5241 Thatcher Road is a 43,516 square foot multi-tenant, flex/industrial building. The property is ideally located within minutes of downtown Downers Grove, Lisle and Yorktown Shopping Center, offering an abundance of upscale shopping and dining destinations. It offers immediate access to Interstate I-355 and I-88 and is located within minutes from the Belmont Metra stop. Built in 1978, the 11-unit facility features suites with drive-in doors and/or docks, heavy power and ample on-site parking.
“This multi-tenant, flex property was a rare offering in the West Suburbs industrial market,” said Moen. “It presented an outstanding ‘value add’ opportunity that garnered a lot of investor interest, and we are pleased to have assisted Heartland Bank and Trust in this transaction.”
The buyer of 5201-5241 Thatcher Road is Midwest Industrial Funds, a Chicago-based, vertically integrated industrial real estate, development and asset management company. Midwest Industrial has been extremely active in the market acquiring several other industrial properties in metro Chicagoland in the last 12 months. The property is currently 32% occupied.