The transaction involved an industrial facility located at 1717 Gifford Road in Elgin, Illinois, which was sold for $24,800,000. The property spans 442,601 square feet, with a price per square foot of $56. This transaction is recognized as one of the largest industrial deals in the Chicago area for the year 2026.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $24,800,000
• Address: 1717 Gifford Road
• Market: Elgin, IL
• Square Footage: 442,601
• Price per Square Foot: $56
• Buyer: PJP Holdings, LLC
• Seller: JP Elgin Project Company LLC
• Buyer's Representative: Frank Griffin & Mike Adams - Lee & Associates
• Seller's Representative: Jack Brennan & Steve Bass - NAI Hiffman

Lee & Associates facilitated the sale, highlighting the strategic acquisition by PJP Holdings, which intends to modernize the property and expand operations. The buyer plans to utilize Illinois’ 6B tax abatement program to aid in redevelopment and job creation at the site.