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2005 : BAUM REALTY GROUP ANNOUNCES INVESTMENT SALES TRANSACTIONS Arranges Sale of $4.85 Million Office Building in Rockford, Ill. and Commercial Condo in Chicago Jan. 14, 2005 The Investment Sales Division of Chicago-based Baum Realty Group has arranged the sale of commercial properties in Rockford, Ill. and downtown Chicago. In both transactions, the firm represented the sellers. The largest of the transactions was the sale of two single story office buildings totaling 24,000 square feet. Located at 4940-4960 E. State St. in Rockford, the buildings were acquired for $4.85 million by a private investor. The seller was a Rockford-based commercial real estate investor/developer. "Underscoring the strength of this market for net leased commercial properties, we sold these buildings in less than two weeks," said Chad Firsel, executive vice president of Baum Realty Group's Investment Sales Division. The 100% leased buildings were developed in 1997 and anchored by the Veterans Administration, State Farm Insurance and RBC Bank. In Chicago's popular West Loop market, Baum Realty Group arranged the sale of a 3,043-square-foot commercial condominium for $630,000. The buyer, LA Tan, will renovate the condo for retail purposes. Located at 914-916 W. Madison St., the property is situated on the ground floor of a residential mid-rise building that was developed in 2001. It features approximately six commercial condominiums on the first floor. In both the Rockford and Chicago transactions, the sellers were represented by Baum Realty Group's Chad Firsel. Baum Realty Group's Investment Sales Division is an extremely effective and efficient intermediary with a successful track record of matching opportunities with the right buyers. During the past three years, team members have closed transactions valued in excess of $400 million. |
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1030 W. Chicago Avenue :: Suite 200 :: Chicago, IL :: 60642 :: P: 312.666.3000 :: F: 312.666.7970 :: info@baumrealty.com |
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