CHICAGO–May 21, 2014– After three years of vacancy, a 42,500 SF industrial building located at 4101 W 124th Place in Alsip has been sold to The Shred Authority, a professional paper shredding service, specializing in secure document and data destruction and storage.
Beverly Hayes of Sperry Van Ness, LLC represented the purchaser, while Robert Barr of Strategic Advisors represented seller, Praxair Surface Technologies Ltd.
Since the industrial property had been vacant for so long, it was eligible for the Class 6b* tax incentive and sold for $1,100,000.
“What most attracted the buyer to this building was the 6b tax provision, its location and high ceilings,” Hayes states.
Sperry Van Ness, LLC is a national full-service commercial real estate advisory firm located at 940 West Adams Street in downtown Chicago. 312.676.1866. For more information, please visit www.svnchicago.com.
About Sperry Van Ness International Corporation
Sperry Van Ness International Corporation, a commercial real estate brokerage franchisor, is one of commercial real estate’s most recognizable brands, based on the annual Lipsey Survey. The Sperry Van Ness® organization includes more than 175 locations in 36 markets. With headquarters in Irvine, Calif., Sperry Van Ness Commercial Real Estate Advisors provide brokerage, tenant representation, consultation, asset management, property management, leasing, accelerated marketing and auction services. Sperry Van Ness advisors represent clients in office, multifamily, retail, industrial, self-storage, hospitality, marina and land transactions. All Sperry Van Ness offices are independently owned and operated. For more information, go to www.svn.com.
Sperry Van Ness LLC | Chicago Commercial
*The Class 6b classification, of Cook County, Illinois, is designed to encourage industrial development throughout Cook County by offering a real estate tax incentive for the development of new industrial facilities, the rehabilitation of existing industrial structures, and the industrial reutilization of abandoned buildings. The goal of Class 6b is to attract new industry, stimulate expansion and retention of existing industry and increase employment opportunities.