
SVN | Chicago Closes Sale of Elk Grove Industrial
A 51,700-square-foot industrial building sold for $3,043,000 at 1425-1455 Tonne Rd. in Elk Grove Village, IL. John Joyce, CCIM and Danny Vanecko of SVN | Chicago Industrial represented the purchaser, a private investor.
“After the closing, our client commended us for assembling a due diligence team of practitioners to provide a seamless transaction,” said Joyce. SVN | Chicago Industrial’s private client has engaged its services to transition from one asset class to another while building a portfolio of industrial properties.
The property is located in the highly sought-after O’Hare Industrial submarket. SVN | Chicago noted that the submarket is expected to see a continued strong demand due to its desirable infill location with close proximity to O’Hare International airport and major highways as well as its access to a strong labor pool.