Timothy Wagener and Carrie Wagener of Owen Wagener & Co. have sold 340 Howard in Des Plaines to Zip Mail Services Inc. The 26,000-square-foot industrial facility will be their new Chicago office and production facility. With heavy power, two exterior docks and Class 6b tax eligibility, the property was a good fit for the expansion of the mail services company. Zip Mail Services was the first presort service bureau in the Midwest and has facilities in St. Louis, Schiller Park and Detroit.
Integral to the transaction was securing Class 6b property tax status whereby the real estate taxes will be assessed at 10 percent of market value for the first 10 years vs. 25 percent, which is the current standard rate.
Focusing on the proximity to O’Hare and the tax incentives helped Owen Wagener & Co. finalize the sale to Zip Mail Services.
