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BEDFORD PARK, IL-Viskase Cos.' sausage casings plant at 6755 W. 65th St. has been sold for the second time since it closed in 2000. A Purinton Development LLC investment group paid slightly more than $4 million for the 14.6-acre site, which included the 500,000-sf plant that was built in 1932.
The investment group, which Purinton Development LLC manages, plans to build a 341,144-sf distribution center, with National City Bank providing an $18.4-million construction loan. The site already is served by a Belt Railway Co. rail spur, and the former sausage plant has been demolished. Construction is expected to be completed in fall 2006.
Purinton Development recently completed a 296,147-sf building at 7123 W. 65th St. in partnership with Bethesda, MD-based Multi-Employee Property Trust. "Tenant interest in the first building is strong, and we expect to announce our first lease in early 2006," says principal James H. Purinton.
A Cook County Class 6b property tax break results in an initial rate of $1.05 per sf for the second building, according to Purinton Development. In addition, the location is in the Summit/Bedford Park Enterprise Zone.
CB Richard Ellis vice president Peter D. Roberson, Jr. represented Purinton Development in its acquisition of the site and will be the leasing agent for the new distribution center, which will be designed and built by Rosemont-based McShane Construction Corp. Wright Architects, Ltd. and IG Consulting Inc., a Wheeling-based civil engineering firm, also are part of the development team.
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