Molto Properties has sold its Chicago-based 3-building portfolio to Lincoln Property Company.
The portfolio consists of 1485 Normantown in Romeoville, 1055 Remington Veterans in Bolingbrook and 49 N. Paragon in Romeoville, which are comprised of 189,662; 116,000; and 45,000 square feet.
This transaction represents Molto’s first FUND II Chicago property sale. Both 1485 Normantown and 1055 Remington were developed by Molto Properties in 2014 and 2015, respectively, and are operating at 100 percent occupancy. 49 Paragon was purchased vacant in late 2015 and has since become stabilized.
Jeff Devine and Steve Disse with Colliers represented Molto in the transaction.