Cushman & Wakefield has represented Chicago-based Danco Converting in the acquisition of an 110,071 rentable square foot manufacturing facility located at 455 E. North Ave. in Carol Stream, Ill. Danco Converting, a commercial paper converting company, will consolidate and relocate its two Elk Grove Village, Ill., operations to the Carol Stream facility.
Senior Director Chris Lydon, SIOR, of Cushman & Wakefield and Principal Chad Arthur of Arthur Brokerage Group arranged the acquisition on behalf of Danco, as well as the sale of its former facility located at 1901 Greenleaf Avenue in Elk Grove Village. “Our growing customer base has fueled the need for additional production capacity,” said Dan Mulvey, President and Founder of Danco Converting. “The new facility will dramatically increase our production efficiencies and allow for long-term manufacturing and operational excellence. This is a testimony to our continuous commitment to providing our customers with outstanding service.” The expansive facility will enable Danco to serve its growing customer base while efficiently operating under one roof. The company will bring approximately 65 new jobs to the new space and will also benefit from DuPage County’s attractive real estate tax basis. “This mission-critical move will offer endless opportunity for Danco’s continued business growth,” said Lydon. “We were fortunate enough to work with Dan Mulvey and his team to find Danco the perfect home within North DuPage County, a premier industrial submarket where demand is high.” Situated on 6.24 acres, 455 E. North Ave boasts 397 feet of frontage along Route 64/North Avenue and includes a combination of two-story office space, production and warehousing areas. Other key features of the warehouse and production asset include 14- to 20-foot clear heights, five exterior docks, one drive-in door, 8,000 amps of electricity and airlines throughout the facility. The centrally located property offers proximity to O’Hare International Airport, convenient access to major Chicago infrastructure and is well-positioned near an excellent labor pool.