Entre Commercial Realty recently represented Mid-American Elevator Company in the sale of 820 N. Wolcott in Chicago. They also facilitated Mid-American’s 1031 exchange purchase of an asset in the Prairie Lake Business Park as the firm looks to relocate to East Dundee, Illinois.
Chicago Wolcott LLC picked up the 22,500-square-foot Chicago asset for $4.125 million. Located on .5 acres, the property consists of a two-story office building that sits on over five city lots in the heart of West Town and was sold within 45 days of active marketing. Entre was able to procure multiple offers within 15 days and capitalized on the growing demand from residential developers in the area.
Cory Kay, Jeff Locascio and Mike DeSerto of Entre represented Mid-American Elevator Company in this transaction while Kinzie Brokerage represented the buyer.
Kay, Locascio and also represented Mid-American, as well as developer Triumph Construction, in the 1031 exchange acquisition of the 45,000-square-foot build-to-suit facility in East Dundee. The facility will serve as Mid-American’s new corporate headquarters, offering them in-house maintenance, manufacturing and assembly. The new-construction facility is scheduled to be delivered in May 2021 and will have 35,000 square feet (divisible to 10,000 square feet) available for lease.