Michael Weaver with CRER (Chicago Real Estate Resources, Inc.) recently represented the seller in a disposition of a $3MM modern warehouse space in West Chicago.
After CRER become the Receiver for the property, Michael was able to procure a willing purchaser, Faber-Castell Cosmetics, a division of Faber-Castell, a centuries-old private German company best known for making pens, pencils and art supplies who had interest in opening a location in the United States.
Faber-Castell Cosmetics will initially employ 15 employees in Illinois and increasing that number to 50 within two years. Faber-Castell projects $50 million in revenue within three years.
The Chicago Tribune reported that Illinois beat out competing sites in Wisconsin and New Jersey to land the German company, with officials citing time zone, the high-tech workforce, and proximity to O’Hare International Airport for picking the Illinois site.
Contact Michael if you need help buying or selling a Warehouse spave in Chicago or the surrounding suburbs. If you are interested in better understanding what your property could sell for contact Steven for a free valuation report including financial analysis and comparable sales.