CHICAGO—CenterPoint Properties has just sold a 263,668 square foot industrial building located at 2425-2553 Edgington St. in suburban Franklin Park near O'Hare International Airport, a transaction that illustrates how in today's competitive market, even older properties like this can find buyers.
Although the buyer and price was not disclosed, Cook County records show that Edsal Manufacturing Co., a Chicago-based furniture and fixture company, paid a little more than $5.8 million.
“The market is on the upswing,” Rick Daly of Darwin Realty & Development Corp., tells GlobeSt.com, “and this is an opportunity to own in an area where rents are rising even for space in older properties.” Daly, Noel Liston, and Jeff Provenza, all of the Elmhurst, IL-based Darwin, represented CenterPoint. Cushman & Wakefield's Larry Goldwasser and Colin Green represented the buyer.
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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.
