NAI Hiffman represents TradeLane in renovated building sale

Photo courtesy of TradeLane Properties

TradeLane properties has sold a vacant building it purchased and renovated two years ago at the Chicago Stockyards Industrial Park.

Financial terms of the sale, which closed last month, and the buyer’s identity were not disclosed.

The 55-year old building is located at 4130 S. Morgan St.

The buyer took occupancy immediately, according to Alex Sutterer with NAI Hiffman, who represented Oakbrook Terrace-based TradeLane along with colleague Packy Doyle.

“[Renovation] work was completed within the last 18 months and included interior demolition, LED lights, HVAC upgrade, extensive site work and asphalt replacement,” said Sutterer.

Sutterer said the property was a good investment for the buyer because the building is highly functional due to the value-add improvements made by TradeLane.

“The significant amount of outside storage and parking will also be a major factor in this asset continuing to hold long-term value for the new buyer,” said Sutterer. “While the market is currently normalizing from a few record-breaking years post-Covid, well located and functional assets [like this one] will continue to perform well.”

About Hiffman National: 

Hiffman National is one of the US’s largest independent commercial real estate property management and advisory firms, providing institutional and private clients exceptional customized solutions for property management, facility management, advisory services, accounting, lease administration, lender services, project management, marketing, and research. The firm’s comprehensive property management platform and attentive approach to service contribute to successful life-long relationships and client satisfaction. As a nationally bestowed Top Workplace, and recognized CRE award winner, Hiffman National is headquartered in suburban Chicago, with more than 250 employees nationally and an additional six hub locations and 25 satellite offices across North America.

About NAI Hiffman:  

NAI Hiffman is one of the largest independent commercial real estate services firms in the US, with a primary focus on metropolitan Chicago, and part of the NAI Global network. We provide institutional and private leasing, property management, tenant representation, capital markets, project services, research, and marketing services for owners and occupiers of commercial real estate. To meet our clients’ growing needs outside of our exclusive NAI Hiffman territory, we launched Hiffman National, our dedicated property solutions division, which provides property management, project services, and property accounting services across the country. NAI Hiffman | Hiffman National is and award winning company headquartered in suburban Chicago, with more than 250 employees strategically located throughout North America.