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Alter Group Sells 147,932 SF Building in Mt. Prospect, IL

MT. PROSPECT, IL - The Alter Group sells a 147,932 square foot warehouse/distribution building in the Lake Center Corporate Park to an institutional real estate investment advisor.

By Chip Barnett | Updated on January 15, 2013

    MT. PROSPECT, IL – EnTrust Realty Advisors LLC has completed the sale of a 147,932 SF warehouse/distribution building at 1780 Wall St. in the Lake Center Corporate Park, northwest of Chicago. Terms of the deal were not released.

   EnTrust represented the seller, The Alter Group. The purchaser was a New York City-based institutional real estate investment advisor, who was not identified.    The building is 100% leased to CVS Caremark for 15 years with options to renew for an additional 10 years.     “Occupying a prime site at the intersection of Algonquin (Route 62) and Elmhurst Roads (Route 83) and just minutes from O’Hare International Airport, Lake Center represents the last large available site this close to O’Hare, and has the convenient access to I-90 necessary for distribution and air freight firms to operate,” James I. Clark III, EnTrust Managing Principal, says in a press release.    CVS Caremark is the largest integrated pharmacy company in the United States.     EnTrust Realty Advisors, an affiliate of The Alter Group, specializes in the disposition and recapitalization of investment real estate through direct sales, joint ventures and structured financing.

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