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Users Pay $38 Per SF to Buy Buildings

LAKE ZURICH, IL-Magil Corp. pays $1.32 million for a 42,000-sf building at 500 Oakwood Rd. in this northwest suburb, while the price for Newport Design Co.'s 11,960-sf portion of 1285 Kyle Ct. is $729,000.

By Mark Ruda | Updated on September 16, 2003

LAKE ZURICH, IL-Two industrial assets in this suburb as well as nearby Wauconda have changed hands recently in separate deals totaling more than $2 million, averaging $38 per sf. Harris Bank of Barrington financed both purchases by users with mortgages at 5.75%, according to property records.

Magil Corp. bought a 42,000-sf building at 500 Oakwood Rd. here for $1.32 million. The supplier of hydraulic motors and equipment for elevators is expanding and relocating from 805-15 Oakwood Rd. Paine/Wetzel · ONCOR International SVP Stuart L. Rosenberg represented the private partnership that sold the property.

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