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ZION, IL-An historic industrial property in this far north suburb has sold for $2.3 million. Deborah Avenue Investors bought the 365,000-sf, 104-year-old building at 605 E. 27th St. from Stonington Partnership.
Although American Air Filters now occupies 45% of the building, the steel and brick structure was first used as a lace manufacturing facility by Zionist movement pioneers. The building has expanded and adapted to other users, serving as a television manufacturing facility in the 1950s.
Deborah Avenue Investors, represented by former Lee & Associates broker Chris Lydon, plans to occupy 25% of the building and find an industrial user for the remaining space. The building has 30 exterior docks, eight drive-in doors and 18-foot ceilings, with 66,400 sf on a second floor.
Colliers Bennett & Kahnweiler senior associate David L. Leibman, SIOR represented Mount Prospect-based Stonington Partnership.
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