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West Suburban Industrial Assets Find Takers

FOREST PARK, IL-Naperville, IL-based Navigator Development pays $14 per sf for five buildings on 5.58 acres at 1401 S. Circle Ave. here, while the price for JCG Industries' buy at 2055 N. 25th Ave. in Melrose Park is $28 per sf.

By Mark Ruda | Updated on July 28, 2003

FOREST PARK, IL-Two west suburban industrial properties, including a 5.58-acre site at 1401 S. Circle Ave. here, have recently changed hands for just more than $2 million. Naperville, IL-based Navigator Development bought Borden Inc.’s former five-building, 85,000-sf chemical facility for $1.2 million, according to property records.

JCG Industries acquired the 30,700-sf building on 2.4 acres at 2055 N. 25th Ave. in nearby Melrose Park for $850,000 from CSM Mechanical Co.

Navigator Development’s was aided by a $550,000 loan from NLSB Bank at 4.25%, according to property records. The same bank recently provided financing for an $860,000 acquisition of 4750 Ronald St. in Harwood Heights.

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