Vacant Industrial Property in Illinois Trades Hands

Marcus & Millichap completed the sale of 421 W. Industrial Ave., a vacant, single-tenant industrial property in Effingham, Illinois.

“This was an off-market owner-user sale that resulted from years of relationship-building with the sellers,” said Forest Bender, managing director of investments. “We sold the property to them years ago as part of a 1031 exchange and were able to help them achieve a strong return when they decided to sell.”

Bender, investment specialist in Marcus & Millichap’s Indianapolis office, in association with Steven Weinstock, Marcus & Millichap’s Illinois broker of record, had the exclusive listing to market the property on behalf of the Ohio-based seller. Jeremie Johnson and Nathan Whalen, also from the firm’s Indianapolis office, procured the buyer, a local private entity.

The property consists of a 110,344-square-foot industrial building on 5.3 acres in Effingham. Constructed in 1972, the facility was vacant at the time of sale and had previously been occupied by NOVA Solutions, Inc.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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