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Chicago & Midwest  + Greater Chicagoland  + Office  | 

Elgin Offices Sell for Headquarters Use

Colliers International | Chicago SVPs John Homsher and Alissa Adler represented an institutional client in the sale of a 31,320-square-foot, single-story office building located at 385 Airport Rd. in Elgin, IL to IHC Construction Companies. Lee & Associates’ Ken Franzese and John Cassidy represented IHC.

The property is currently leased to three tenants. The purchaser, a 114-year-old general contracting business, will move its headquarters into approximately 11,000 square feet at the building after combining multiple suites to accommodate its office requirements.

Built in 1988 by Hamilton Partners, the multi-tenant Class B office building sits on 2.89 acres off the Route 31 exit at the I-90 four-way interchange, with visibility from the Interstate. It was 28% leased at the time of sale. Pricing wasn’t disclosed.

“This was a terrific opportunity for our client to sell to a user-investor seeking a well-located asset significantly below replacement cost,” said Homsher.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).