7400 W. 100th Place, Bridgeview, IL
Project Size: 156,000 SF
Project Type: Acquisition Sale-Leaseback
Opportunity: Midwest acquired a well located, partially leased, infill asset on a large land parcel that required repositioning. The acquisition was at a favorable basis and included a new roof.
Value Added:
- Structured sale and partial building leaseback in order to give Midwest income and flexibility to find a long term tenant
- Secured new long term tenant
- Completed total renovation of new tenant’s space
- Midwest secured a major property tax reduction that allowed for higher NOI
- Relocated part of long term tenant’s premises to allow extra land to be subdivided and retained by Midwest at building sale which is now cash flowing.