Lagestee-Mulder recently purchased the Finley Business Center at 2505 S. Finley Road in Lombard, Illinois.
The 63,196-square-foot office building sits on a 4.35-acre site between 22nd Street and Butterfield Road in the western suburbs, and was purchased by the company’s new investment fund, LM Value Investors II, LLC.
The seller, a private investor, was represented by William Novelli, Jr. of CBRE. The sales price was not disclosed.
This is the first asset purchased by LM Value Investors II and the third office building purchased for the LM funds.
“This purchase is a continuation of our focus on well located assets in strong suburban markets,” said Don Price, senior vice president and chief investment officer for Lagestee Mulder.
The building was built in 1985, and is 98 percent leased to six tenants, including Griffith Laboratories, Protection One, Vixxo, Munton’s Malted Ingredients, Progressive Communications and Indemand Interpreting.