GC Realty & Development Acquires Industrial Property In Lake Forest For $6.85M

The industrial property located at 13801-13825 West Laurel Drive in Lake Forest, IL has been sold for a price of $6,850,000. The property spans a total of 61,251 square feet, resulting in a price per square foot of $112.

Summary of transaction details

• Property Type: Industrial
• Sale Price: $6,850,000
• Square Footage: 61,251
• Price per Square Foot: $112
• Address: 13801-13825 West Laurel Drive, Lake Forest, IL

The buyer's representative in this transaction was Ian Pattison from GC Realty & Development, LLC. The buyer was motivated by the significant rise in lease rates and decided to consolidate multiple locations into this new headquarters facility. It is worth noting that the property had previously been part of several portfolio sales in the past few years and was recently recapitalized, adding another layer of complexity to this deal. Many thanks to everyone involved in facilitating this transaction.