NAI Hiffman recently announced the sale of 516-554 N York Road, a 100,000-square-foot industrial complex in Bensenville, Illinois.
NAI Hiffman Senior Vice President, John Whitehead, represented the buyer, Cordoba Properties, in the transaction. Cordoba, a private investor, was looking to diversify its holdings.
516-554 N York Road features approximately 1,500 to 3,000 square feet of built-in office space, 16’ clear ceiling height, 200-600 amps, and one dedicated exterior dock per unit.
At the time of purchase, the building was 85 percent occupied. Whitehead, along with NAI Hiffman Associate, Josh Will, have been retained to lease the remaining 15,000 square feet of vacancy. While the building remains in good condition, ownership plans for improvements to the office space and individual units on an as-needed basis.
“The new owner is excited to own an O’Hare asset so close to the airport,” Whitehead said. “The varying unit sizes give Córdoba and Hiffman flexibility to see many different prospects, which should result in increased occupancy quickly.”
Located within the O’Hare submarket, 516-554 N York Road is within close proximity to the proposed O’Hare West entrance, as well as the I-294 tollway and Interstate 90.
“Bensenville has a very low vacancy rate, currently and historically, and is in DuPage, which makes the location even more exciting due to its lower taxes,” Will added.