Imperial Pays $48 Per SF for Office Building

NILES, IL-Imperial Realty Co. has paid $2.6 million for an office building here leased to AB Dick Corp. The three-story, 54,000-sf building at 7400 N. Caldwell Ave. was recently vacated after five years by AB Dick before being sold by PAR Realty Ltd./Nesco of Mayfield Heights, OH.

“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.”