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Darwin Realty & Development Corporation
Investment Sales & Owner Representation
Arlington Heights, Illinois
24,056 SF
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Challenge
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- An investor purchased the building, which was vacant and in disrepair
- Investor wanted to lease up building and sell building for high return
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Action Steps
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- In order to achieve high market rents, we convinced owner to fix-up property by sealing floors, adding new lights and offices, and repairing parking lots
- Within nine months, building was “cleaned up” and units were leased to good credit tenants
- Once fully leased, the building was put back on the market as an investment sale
- We stayed with the property though the lifecycle of the building: sold to investor in 2002, then hired to lease vacant units, and sold fully-leased building to another investor
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Results
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- Sold the building to a private investor within six months for almost double the cost the previous purchaser paid for the property.
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