Marcus & Millichap Brokers $5.2M Sale-Leaseback of Industrial Building in Niles, Illinois

The 56,261-square-foot property is home to Quality Elevator Products Inc.

NILES, ILL. — Marcus & Millichap has brokered the sale-leaseback of a 56,261-square-foot industrial building in the Chicago suburb of Niles for $5.2 million. The property, located at 7760 N. Merrimac Ave., sold for above asking price. Constructed in 1975, the facility features a clear height of 18 feet, eight internal docks and one drive-in door. The tenant and seller, Quality Elevator Products Inc., had owned the building since 2004. Peter Doughty and Dylan Hyde of Marcus & Millichap represented Quality Elevator Products. The duo also procured the buyer, a real estate investment firm focused on industrial assets.

Content Partners
‣ Arbor Realty Trust
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‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Walker & Dunlop

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