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Chicago & Midwest  + South Side  + Office  |  February 12, 2021
Paul Bubny
By: Paul Bubny

Manufacturer Relocates HQ from West Town in 1031 Exchange

Entre Commercial Realty recently completed a 1031 exchange in which it sold Mid-American Elevator Company’s West Town offices and arranged a build-to-suit sale for a new headquarters property in East Dundee, IL. The sale of the 22,500-square-foot 820 N. Wolcott in Chicago to Chicago Wolcott LLC closed at $4.125 million.
 
Cory Kay, Jeff Locascio, and Mike DeSerto of Entre represented Mid-American Elevator in the West Town sale. Kinzie Brokerage represented the buyer.

At Prairie Lake Business Park in East Dundee, Mid-American Elevator will occupy a 45,000-square-foot BTS that’s slated for delivery in May, with 35,000 square feet available for lease. In this transaction, Kay, Locascio and DeSerto represented both Mid-American Elevator and the developer, Triumph Construction. Terms of the sale weren’t disclosed.

For comments, questions or concerns, please contact Paul Bubny

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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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