450 Tower Blvd., Carol Stream, IL
CAROL STREAM AND ELGIN, IL—Trusts represented by Chicago Land Title Trust acquired two Bristol Group warehouse facilities located in Carol Stream and Elgin, IL for $7 million. The properties are a 45,746-square-foot building at 450 Tower Blvd., Carol Stream, and a 35,756-square-foot facility at 1895 Big Timber Road in Elgin, IL. Colliers' Kelly Joyce represented the buyer while Colliers' Jeff Devine and Steve Disse represented the seller, Bristol Group. The buyer was identified through Real Capital Analytics, a proprietary research database that tracks commercialreal estate transactions.
Located on 2.7 acres, 450 Tower Boulevard—built in 2008—features five loading docks, 22-foot clear height and heavy power. The company is fully leased to two tenants, Apex Beverage Equipment and Eclipse Mailing SVC, according to Real Capital Analytics. Its Central DuPage County location makes it proximate to O'Hare International Airport, North Avenue, and a full interchange at I-355.
1895 Big Timber Road, Elgin, ILSituated on 2.3 acres, 1895 Big Timber Road, built in 2007, is a modern, high image facility with three loading docks and 24-foot clear height. Located in Kane County, the facility offers easy access to I-90 via two full interchanges on Randall Road. The property is also fully leased to two tenants including Sonderhoff USA.
“The buildings were attractive to the buyer due to their unique sizes,” says Joyce, a vice president at Colliers. “Two-tenant buildings with smaller spaces around 15,000 to 24,000 square feet are desirable sizes, and it can be challenging to find similar facilities.”
Bristol Group is a real estate investment and development firm with industrial, self-storage, office, retail, multi-family, and alternative use properties located throughout the US.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
