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Chicago & Midwest  + Greater Chicagoland  + Industrial  |  July 18, 2018
Paul Bubny
By: Paul Bubny

Midwest Industrial Makes 600K-SF Buy, Plans Major Renovations

Midwest Industrial Funds recently purchased a 600,000-square-foot, two-building industrial complex at 6600-6620 River Rd. in Hodgkins, IL for north of $17 million. The buyer plans a $15-million repositioning, renovation and modernization plan for both facilities.

As part of the repositioning, Midwest Industrial will tear down part of 6600 River Rd. to modernize it with 45 additional exterior docks, along with other upgrades. The renovation will bring it to 408,000 square feet. The smaller 6620 River Rd. will remain 110,000 square feet post-renovation.

Walter Murphy of Lee & Associates was the sole broker involved with the sale and represented the seller, who was not disclosed. Murphy is being retained by Midwest Industrial to lead the marketing efforts for the lease-up of the two properties. Steve Roth of CBRE secured the construction financing for the project. Harris Architects is the architect, and Spaceco is the civil engineer for the project.


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Read more at Midwest IndustrialConnect With Lee & Associates' Murphy

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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