Colliers International | Chicago’s John Basile represented Esmark Steel Group in the sale of its 223,517-square-foot heavy crane facility located at 300 E. Joe Orr Road in Chicago Heights, Illinois. With an asking price of $3.1 million, the facility was purchased by a private investor, 300 E. Joe Orr Rd LLC.
“In the past six months, we’ve seen an increase in demand for heavy craned facilities with rail access,” said Basile, a vice president at Colliers | Chicago. “There are a limited number of facilities with both of these features, so investor and user demand is currently very strong.”
The one-story, heavy crane facility features 18 cranes, from 10- to 30-ton capacity. The building also has 16-foot to 36-foot clear ceiling height, an interior rail spur for Union Pacific, 10 drive-in doors, five drive-through bays and more than 12,000 square feet of office space.
Esmark Steel is one of the leading processors and distributors of flat-rolled steel and the third-largest producer of tin plate steel in the U.S. The buyer plans to complete renovations and lease the property. Ed Wabick of Paine Wetzel represented the buyer in the transaction.