Lee & Associates closed a $24.8 million sale transaction for a 442,601-square-foot industrial building at 1717 Gifford Drive in Elgin, Illinois.
The transaction is the second-largest industrial building sale in the metropolitan Chicago area in 2026 when considering square footage, and the largest to-date in the North Kane / I-90 submarket by both square footage and dollar volume.
Frank Griffin, principal and Mike Adams, senior vice president at Lee & Associates’ Illinois office, represented the buyer, PJP Holdings, LLC, a rigid plastic manufacturing company who will be modernizing the facility and surrounding infrastructure. This is a new location for the firm, adding to the four facilities they occupy in the Chicagoland area. Jack Brennan and Steve Bass of NAI Hiffman represented the seller, JP Elgin Project Company LLC.
The sale in Elgin underscores the critical role that Illinois’ 6B tax abatement program continues to play in driving large-scale industrial investment, redevelopment, and job creation throughout the region.
The deal was completed by PJP, with the assistance of the law firm Liston & Tsantilis.
