Midwest Industrial Funds Purchases 84,000 SF Building in Libertyville

Midwest Industrial Funds Purchases 84,000 SF Building in Libertyville

September 17, 2013 | Credit: Staff Report Daily Herald Business Ledger

LIBERTYVILLE – Midwest Industrial Funds recently purchased an 84,000 square-foot-corporate headquarters, assembly and hi-tech manufacturing building located at 1200 Technology Way, Libertyville. The property is fully leased on a long term basis to MBX Systems, a designer and manufacturer of server appliances and optimized systems for application developers and service providers. MBX completed a substantial renovation of the building including new office, engineering and R & D build-out as well as new lighting, power distribution and other warehouse improvements after signing a lease in 2012. The building was previously occupied for over 25 years by Motorola. Joe Bronson and Jeff Fischer of NAI Hiffman represented the seller on the transaction.

Midwest Industrial Funds officials said it views the acquisition as a great opportunity to purchase a quality building in the sought after Lake County submarket at an attractive basis substantially below replacement cost. The building  is expandable and is on over 8 acres with 375 car parking, is fully air conditioned and has over 5,000 amps of power.