"Imperial Realty acquired a vacant building in a market where they maintain a solid presence," says Grubb & Ellis Co. senior vice president Jim Ward, who represented PAR Realty Ltd./Nesco with associate Daryl Silverman. "They are planning to lease the floors to medium-sized entrepreneurial firms."

PAR Realty Ltd./Nesco bought the building in 1997 for $2.2 million, according to property records. In addition to the 35-year-old building, the property includes three acres.

In an unrelated deal, Imperial Realty Co. also acquired a mixed-use building at 515-55 Roger Williams in Highland Park for $1.8 million. The building includes three retail spaces, one occupied by a White Hen Pantry, and second-floor office space in the Ravinia Business District. A limited liability corporation sold the building less than two years after paying $1.6 million, according to property records.