Brown Commercial Group recently arranged the sale of a 72,000-square-foot building at 45 N. Church St. in Addison, Ill., and a 9,730-square-foot building at 3522 Martens St. in Franklin Park, Ill.
Micromatic Spring & Stamping purchased the facility at 45 N. Church St. in Addison. The firm was unable to get conventional financing with current lending guidelines. Brown Commercial helped guide the transaction toward a satisfactory conclusion—the buyer put down a large downpayment and the seller was able to hold the note for five years and offer favorable financing terms for the buyer.
“In today’s financing environment, you have to be creative in order to get the deal done,” said Dan Brown, president of Brown Commercial Group in Elk Grove Village, which represented the seller. Mike Antonelli, an associate with Brown Commercial, also assisted with the transaction.
Micromatic is moving out of Franklin Park, which is in Cook County, to Addison, in DuPage County, to lower its tax obligations and expand its space. The company manufactures compression, extension, and torsion springs, along with other products, for a variety of industries. The building previously was a machine shop, so it offers the layout, ceiling heights and mechanicals the tenant desired.
The building includes 6,000 square feet of office space, two loading docks and two drive-in doors, along with parking for 40 vehicles. The ceiling heights range from 13-feet to 20-feet. The property is well located near a large labor pool and good transportation corridors.
Paine Wetzel’s Phil Reiff Jr., an associate, and Phil Reiff Sr., a senior vice president, represented the tenant.
In a separate transaction, Brown sold a 9,730-square-foot building at 3522 Martens St. in Franklin Park, Ill. to Dual Manufacturing Co., Inc., which is moving its operations from Chicago.
The building sold for approximately 10 percent more than the listing price.
“It just goes to show that when you have a good building with amenities that people want, it will sell,” said Brown. “This is one of the few buildings in the market that is newer and has the ceiling heights and other features today’s companies need.”
Trinity Scurto, a senior associate of Brown Commercial, represented the seller, a private investor. Donald A Sebastian, president of The Sebastian Co. Real Estate in Park Ridge, represented the tenant.
Dual Manufacturing Co. makes sieves, shakers, scales and measuring devices for the testing aggregate, cement, soil, asphalt and petroleum products.
