Brown Commercial Group negotiated the sale of a 22,050-square-foot food distribution building in Chicago’s O’Hare industrial market. Vice President Mason Hezner and Broker Candace Scurto represented Athos Rawls Road LLC in the sale of 90 Rawls Road in Des Plaines, Illinois.
The property received multiple offers shortly after going on the market and sold for $2.45 million. “Given the strong demand for smaller industrial facilities and this property’s specialized food industry features, there was significant competition for the space,” said Hezner.
Located in the O’Hare submarket, the building was customized for food distribution use and includes nearly 6,000 square feet of cooler space and 2,530 square feet of walk-in freezer space. The location provides easy access to transportation routes via nearby Route 72 and 83 and I-90. “There is limited availability for buyers searching for industrial buildings near O’Hare Airport and vacancy rates are near all-time lows,” said Hezner. “Industrial buildings with food infrastructure are even more difficult to find which influenced the premium sale price received over most traditional industrial facilities in the area. “
The buyer, GCB LLC, plans to use the space for a similar food distribution business.
The buyer was represented by Joe Karmin of Transwestern.
