This transaction involves the sale of an industrial property located at 1650 Howard Street in Elk Grove Village. The buyer is Elk Grove Village, represented by Mayor Craig Johnson, who is set to acquire the asset for $5,650,000. The property encompasses 71,000 square feet and features a price per square foot of $80.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $5,650,000
• Buyer: Mayor Craig Johnson - Elk Grove Village
• Seller: Louisville Tile
• Square Footage: 71,000
• Price per Square Foot: $80
• Date of Transaction: 01/09/2025

The purchase is aimed at providing Elk Grove Village with a facility to store municipal vehicles and equipment, allowing for improved operational efficiency. The village intends to sell a smaller building that was acquired the previous year at a profit as part of this transition to a larger space that includes a 32-foot clear height and an open floor plan.