5300 Katrine Avenue, Downers Grove, IL

Project Size:        109,000 SF

Project Type:      Acquisition of Leased Single-Tenant Building

Opportunity:       Midwest acquired a property leased shorter term to a global manufacturing tenant from a bankruptcy auction at an attractive basis in a highly-desired submarket

Value Added:

  • Navigated through complex bankruptcy auction and stalking horse process to gain control of the property
  • Fast tracked due diligence in order to post over $300,000 non-refundable upon execution of the purchase agreement
  • Negotiated a complex 15-year lease extension with a lease guarantee from an international entity as part of tenant’s facility consolidation plan
  • Managed all facets of the design, permitting and construction for a multimillion-dollar property renovation to make the property a secure, state of the art, high tech manufacturing facility
  • Sold the property to an institutional equity REIT at an attractive price point