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Chicago & Midwest  + Greater Chicagoland  + Industrial  |  October 31, 2018
Paul Bubny
By: Paul Bubny

Lee Brokers Off-Market Ind. Deal in Tinley Park

Lee & Associates has closed a $7-million off-market sale transaction for a 84,388-square-foot industrial building located at 8201 W. 183rd Street in Tinley Park, IL.

Principals Terry Grapenthin and Jeff Galante and VP Ryan Earley represented the buyer, 7600 Grant BR LLC.

“After the successful disposition of a previously-owned facility, our client was in a 1031 exchange situation,” said Grapenthin. “They had continued interest in well-located, multi-tenant properties outside of Cook County.

“This property was not on the market, but through an unsolicited offer to purchase, we came to terms and successfully closed to satisfy the exchange and avoid the substantial tax implications,” he continued.

The property was mostly leased at the time of purchase. The Lee & Associates team has been retained by the new owners to complete the balance of leasing.


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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 16-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 7-10 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 GlobeSt.com 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).
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