Midwest Industrial buys Huntley property, sells Cary site

OAK BROOK - Midwest Industrial Funds recently purchased a 71,000 square foot industrial building at 12007 Smith Drive in Huntley.

The property features 22-foot ceilings, 8 exterior docks, 60-plus car parking and is on a large site with an additional three acres that can be developed separately or used for building, trailer parking or car parking expansion. The facility is currently fully leased to one tenant who uses the property for warehousing and light manufacturing.

Midwest Industrial plans to improve the exterior facade, install new windows, perform landscaping enhancements and eventually perform market ready interior improvements to reposition the property in the marketplace.

Dan Tobin of CTK Chicago Partners represented Midwest Industrial and Michael Magliano of Cushman and Wakefield represented the seller a private investor on the transaction.

In a separate transaction, Midwest Industrial Funds sold a renovated 76,000 square foot building at 640 Industrial, Cary.

The property was sold to an affiliate of Illinois Lift Equipment, who is expanding and moving their operation from West Chicago. Midwest Industrial acquired the property vacant in 2015 and repositioned and modernized the property to make it market ready by demolishing over 60,000 square feet of two story office and warehouse mezzanine space, designing and building a new custom exterior entrance, painting of the entire exterior, improving drainage as well as installing new larger dock doors, new energy efficient windows, HVAC, lighting and landscaping enhancements.

The team of Dan Jones, Dan Benassi and Mike DeSerto of Entre Commercial Realty represented Midwest Industrial on the sale and Steve Morken of Morken and Associates represented Illinois Lift Equipment on the transaction.