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Perry Schonfeld Of LBA Logistics Acquires Industrial Asset In Schaumburg From Joseph Sitt For $21.4M

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SOLD
$21,400,000

Illinois

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Industrial109,000 SF
Sold 01/20/2026
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SOLD

Perry Schonfeld Of LBA Logistics Acquires Industrial Asset In Schaumburg From Joseph Sitt For $21.4M

1211 Tower Road

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Industrial109,000 SF
Sold 01/20/2026
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Industrial
Price Per Square Foot:$196
Total Square Footage:109,000 SF
Transaction Type:Sale

1211 Tower Road is an industrial asset located in Schaumburg, featuring a size of 109,000 square feet. The property was sold for $21.4 million, equating to a price per square foot of $196. The asset is highly positioned within the market, particularly as Chicago-area industrial construction slows.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $21,400,000
  • Buyer: Perry Schonfeld - LBA Logistics
  • Seller: Joseph Sitt - Thor Equities
  • Lender: Wintrust Bank

Perry Schonfeld, representing LBA Logistics, has acquired the property from Joseph Sitt, who represented Thor Equities. This transaction marks the culmination of a redevelopment project that successfully attracted a buyer amid a changing industrial market in the region.

Players

Joseph Sitt
Thor Equities
Joseph Sitt
37 deals$1.1B volume
SELLER
Wintrust Bank
Wintrust Bank
LENDER

Details

SOLD
IMAGE: Joseph Sitt & Perry Schonfeld DATE: 01/20/2026 ADDRESS: 1211 Tower Road MARKET: Schaumburg ASSET TYPE: Industrial BUYER: Perry Schonfeld - LBA Logistics SELLER: Joseph Sitt - Thor Equities (@ThorEquities) LENDER: Wintrust Bank (@Wintrust) SALE PRICE: $21,400,000 SF: 109,000 ~ PPSF: $196 NOTE: Thor Equities sold its 109,000-square-foot spec industrial building at 1211 Tower Road in Schaumburg to LBA Logistics for $21.4 million, according to public records.The exit caps a profitable redevelopment for Thor as Chicago-area industrial construction slows from pandemic highs, with airport-proximate assets continuing to attract buyers.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$76,029.69
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