Avalair Group Acquires Woodlake Corporate Park In Lombard For $23M

Avalair Group has acquired Woodlake Corporate Park, a mixed-use property located at 800-1080 Parkview Boulevard in Lombard, Illinois. The property spans 263,000 square feet and was purchased for a total of $23 million from Brennan Investment Group. The purchase price equates to a price per square foot of $87. Alliant Credit Union provided a loan of $15.8 million to facilitate the acquisition. The property was previously acquired by Brennan Investment Group in 2016 for $28 million.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $23,000,000
• Address: 800-1080 Parkview Boulevard, Lombard, Illinois
• Market: Lombard
• Square Footage: 263,000
• Price Per Square Foot: $87
• Buyer: Avalair Group - Norman Eisen
• Seller: Brennan Investment Group - Michael Brennan
• Lender: Alliant Credit Union

Norman Eisen, representing Avalair Group, played a key role in the acquisition of Woodlake Corporate Park. With the support of Alliant Credit Union's loan, Avalair Group successfully closed the transaction, adding this prime mixed-use property to their portfolio. The seller, Michael Brennan, of Brennan Investment Group, demonstrated their willingness to transact at a reduced price compared to their acquisition in 2016. The purchase of Woodlake Corporate Park marks a strategic move by Avalair Group to expand their presence in the Lombard market.