CHICAGO—Bidders will soon have an opportunity to pick up a Chicago-area industrial building for as little as $4-per-square-foot. On August 22, the Chicago-based Auction Services Group will auction off 3601 Chicago Rd. in suburban Steger. They will hold the auction in the Hyatt Lisle Hotel at 1400 Corporetum Dr. and bidding for 111,000-square-foot class B structure will start at $450,000.
“The auction will allow users and investors a unique opportunity to name their price for this well-located manufacturing warehouse facility,” says Kelly T. Frank, executive vice president of ASG. The building sits minutes away from I-394 and I-57, and a short drive from I-294, I-94 and I-80, he adds, with access to other pieces of the Midwest transportation system, including the Union Pacific Railway and Midway Airport.
The offering was first built in 1967 but also got a 20,000-square-foot metal curtain addition in 1986. It also has 6,300-square-feet of office space and 4.8 acres of land. The final inspection date and time to view the property is from 10:00 AM to noon on Friday, August 16th.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
