Noil Petroleum Corp., which specializes in the wholesale distribution of petroleum and petroleum products, is relocating to 611 and 613 N. Union St., an office/warehouse building in Chicago’s River West neighborhood, according to Transwestern who completed the 26,208-foot-lease.
The company plans to relocate to the facility on November 1, boosting building occupancy to 100 percent.
“The relocation brings many economic benefits to the tenant, including a nearly 60 percent reduction in rent,” John Joyce, principal at Transwestern said. “The building also provides 70 rooftop employee parking spaces and excellent visibility along the Ohio Street access ramp.”
Joyce represented the building owner, Lincolnwood, Illinois-based Gross Props.
Noil Petroleum will build out 15,000 square feet for offices and use the remaining 11,200 square feet for additional vehicle storage. AAA, which is a client of Noil Petroleum, occupies the building’s remaining 32,000 square feet.
