Value Industrial Partners recently acquired a 33,332-square-foot multi-tenant building located at 2201-2207 Lively Boulevard in Elk Grove Village.
Theresa Gleason of Paine Wetzel represented the seller, a private individual, and Brian Liston and Brian Gedvilas of Value Industrial Partners worked on behalf of Value Industrial Partners.
The Lively Boulevard building was 25 percent leased at the time of purchase. Value Industrial Partners entered into long-term leases for two of the vacant units immediately following the purchase bringing occupancy to 75 percent. Several improvements to the building are now underway including replacement of the parking lot, driveways, dock wells; upgraded interior and exterior lighting; improved landscaping and several interior improvements.
Value Industrial Partners owns and manages more than 3.7 million square feet of industrial buildings throughout the Chicago area.