Marcus & Millichap closed the sale of a 23,000-square foot industrial property located at 1377 Industrial Drive in Itasca, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $1,650,000.
Tami Andrew, associate, and Tammy A. Saia, first vice president and investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf of the seller, a private investor.
The property is in an excellent location, less than one mile from the Interstate 390 expressway to O’Hare. The property was highly sought after with multiple offers due to tremendous access to highway system and DuPage County low property taxes. The building features two internal docks with levelers, crane, mezzanine and has an updated office space. The property was sold to an owner-user who had been looking for over a year in a very tight market. The property closed in 63 days at 96 percent of list price.