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Lacava Buys 80,000-SF Facility

CHICAGO-The luxury bathroom design and manufacturing firm purchased the 4.2-acre property for $2.4 million from Chicago Steel Rule & Die.

By Cari Brokamp | Updated on September 13, 2009

CHICAGO-Lacava Design has acquired an 80,000-square-foot building at 6630 W. Wrightwood Ave. from Chicago Steel Rule & Die for $2.4 million. The growing luxury bathroom design and manufacturing firm will expand into the 4.2-acre property from a 40,000-square-foot, multi-story building it previously leased at 2243 S. Throop St. in the Pilsen neighborhood of Chicago. Both Lacava and Chicago Steel Rule & Die were represented by Michael Nelson, VP, and Mark Nelson, associate, with Paine/Wetzel ONCOR International.

“Lacava specializes in high-end bathroom collections which include hardware such as faucets and bathtubs, mostly imported from Italy, as well as contemporary elegant bathroom furniture made here in Chicago and distributed worldwide,” Nelson tells GlobeSt.com. “The furniture design and manufacturing part of the business has been growing and this facility presents the perfect solution for growth. Fully equipped for furniture manufacturing, Lacava will double the size of their manufacturing operation in this building, from 40,000 to 80,000 square feet – an encouraging sign for us in this market.”

Nelson says this property is a perfect example of the changed market, in that it was listed just two years ago for $4.2 million, nearly twice the price for which it has now sold. “We have worked with Carmine Lacava, owner of Lacava for the past two years – about 18 months ago we were under contract on a less functional multi-story facility but the deal fell through on account of the seller,” Nelson says. “The market has shifted which has created a unique opportunity for companies like Lacava to buy better, more functional real estate at heavily discounted prices.”

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