3 W. College Drive, Arlington Heights, IL

Project Size:         35,000 SF

Project Type:       Acquisition of Vacant Building

Opportunity:      Midwest acquired the functional property that had experienced significant deferred maintenance at an attractive basis from a private seller looking to close his business

Value Added:

• Secured the challenging municipal approval of “Class 6b” property tax incentive effectively cutting the taxes by 50% over a twelve-year period
• Completely repositioned and modernized the property by implementing major improvements to the exterior façade, parking lot, landscaping, roof, HVAC and office and warehouse areas
• Stabilized the property by leasing it to a growing subsidiary of a corporate rail, transportation and manufacturing leader