Nelson represented the buyer in the sales transaction, while the seller was not represented. The buyer acquired the site as an investment. The building is on a 7.5-acre piece of property and is near the Dan Ryan expressway. Amalgamated was beginning foreclosure proceedings when the building was sold, Zilka says.
The building, which was constructed in 1967 and 1973, has 20,000 sf of office space. The Chicago Transit Authority recently signed a lease for 80,000 sf in the building, Nelson says. The CTA uses the building a training and bus repair facility. The term of CTA's lease is five years, Nelson says. CTA is currently the only tenant in the building, he says.
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