10499 W. 164th Place, Orland Park, IL

Project Size:         50,000 SF

Project Type:       Acquisition of Partially Leased Building

Opportunity:      Midwest acquired a modern, two-tenant, pre-cast concrete and glass facility that was 50% leased to a large credit tenant with over 5,000 employees globally.

Value Added:

  • Secured the approval of “Class 6b” property tax incentive effectively cutting the taxes by 50% over a twelve-year period
  • Renovated and repositioned the property and vacant space by upgrading the exterior façade, parking lot and performing market ready interior improvements to the vacant space
  • Leased the vacant space to a short-term tenant almost immediately after acquisition, then secured a long-term replacement tenant who exercised their option to purchase the property as a user/investor