As seen in BizTimes Milwaukee-based Zilber Property Group recently purchased a 125,990-square-foot light industrial building at 1331 Davis Road in Elgin, Ill. The sale price was not disclosed.
Seigle Cabinet Center is leasing back a portion of the building following the sale. The remaining portion of the building is being leased to Bucher Hydraulics.
Zilber Property Group, the trade name under which Zilber Ltd. markets its commercial investment portfolio, has acquired several industrial properties in the Chicago area in recent years.
"As the Chicago metro area's economy continues to stabilize, the I-90 corridor has gained renewed strength. We have identified this as one of our key submarkets to focus on as we continue to grow our industrial portfolio throughout Milwaukee and Chicago," said John Kersey, Zilber executive vice president. "We were attracted to this particular building after meeting with Mark Seigle and discussing the successful resurgence of the Seigle Cabinet Center as well as Bucher Hydraulics - a strong international company that continues to grow and add jobs to the economy."
Ken Franzese and John Cassidy of Lee & Associates represented the seller while Adam Marshall of NAI Hiffmanrepresented Zilber Property Group and Bucher Hydraulics in brokering the sale.