Brown arranges $1.5 M industrial sale
April 20, 2024 — A story in France Media highlights that Brown Commercial recently arranged the $1.5 million industrial sale of a 10,000-square-foot property at 3212 S. Nordic Road in the Chicago suburb of Mount Prospect. The property is zoned for auto use. Brown Commercial’s Vice President of Sales Mason Hezner represented the seller, an owner of a Carstar autobody franchise. The sales price was $110,500 over the asking price.
“This was a unique industrial sale due to the rarity of an industrial property zoned for auto use in the area, and we quickly received abundant attention from several buyers.,” said Hezner. “This was a fully equipped turn-key autobody that included plenty of equipment in the sale. The buyer owns several other autobody shops in the area, making this an ideal expansion acquisition for them.”
The buyer, 3212 S. Nordic LLC, was represented by Matt Kotapka of Executive Realty Group, LLC.
According to CoStar research, Chicago’s Northwest Cook County industrial market has recorded 43 sales over the past year, with pricing averaging $85 per square foot. Most of the sales have been those of logistics space, which accounts for the largest share of industrial space in that submarket. Over the past three years, there have been 188 industrial sales totaling approximately $521 million.
