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Lee & Associates, CBRE Arrange Sale of 510K-SF Campus in Elgin
Lee & Associates of Illinois and CBRE announced the sale of a 510,000-square-foot, 82-acre former corporate campus and ministry facility at 1000 N Randall Road in Elgin.
The seller, Harvest Bible Chapel, was represented by Kenneth Franzese, SIOR and John Cassidy, SIOR, Principals of Lee & Associates of Illinois, in collaboration with Tony Gange of CBRE. The self-represented buyer was Acts2Network.
Originally developed as Safety-Kleen’s world headquarters in 1993, the property includes a 350,000-square-foot office building wrapped around a multi-story parking deck, plus a 160,000-square-foot addition. Site amenities include an auditorium, an athletic center, production studios, training rooms, and a cafeteria.
“Given its complexity and lack of a clear ‘single use’ profile, the assignment involved a multi-year strategic effort,” said Cassidy. The transaction included multiple pre-closing lease agreements, enabling the parties to begin operations before closing. The terms also included a longer-term leaseback for Harvest Bible Chapel’s academy and portions of its spaces.
