Property records indicate financing came from Harris Bank of Naperville, which provided a $1.8-million adjustable-rate mortgage at an initial rate of 4.25%.
"The property was a vacant, single-tenant corporate headquarters, and the buyer was growing rapidly from its current 12,000 sf space and needed about 30,000 sf," says John R. Homsher, who was part of the entity that sold the building. "Although this building is larger, the buyer felt they would fill it completely in less than a year."
Julien J. Studley corporate managing director Brian Netzky represented the buyer in the transaction.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
