Entre Commercial Realty closed the sale of a 56,254-square-foot building at 4610 Prime Parkway in northwest suburban McHenry, Illinois.
This unique property had been on the market for more than two years prior to the owner engaging with Entre to evaluate and handle the sale earlier in 2023. The building was extremely specialized as a prior owner had outfitted a significant portion of the interior of the original warehouse building with a two-story production mezzanine.
While the layout worked for the prior occupant it had become evident over two-plus years of marketing time that it was too specialized for most of today’s users in search of higher cube warehouse space, lower office ratios and extra land.
Once retained by ownership, Entre engaged with an architectural firm, structural engineer and construction company to evaluate the feasibility and cost to remove the partially structural mezzanine and restore the building to a more generic warehouse-type building that would meet today’s user demand.
Entre identified that the property could be transformed back to a smaller 42,000 square foot building with 21-25’ ceilings with an extra two-acre land parcel that could be used for vehicle parking, outdoor storage, etc. Upon completion of the engineering study, Entre re-launched the property to the market and there was significant interest from users searching for these features in a property. Ultimately the property was acquired by Viper Holdings, which provides scissor and boom lifts to the construction industry.
Entre’s Dan Jones, SIOR, Dan Benassi, SIOR, and Sam Deihs represented the seller while Adam Fortino of Marcus & Millichap represented the purchaser in the transaction.
