Vacant, 41,000 sf property with Income-Generating Cell Tower

5110 Tollview Drive, located in the suburb of Rolling Meadows, IL, presented an opportunity to acquire a well-maintained, 2.78 acre site that includes a 41,000 sf industrial building split into 11,556 sf and 29,444 sf sections and a cell tower leased to Crown Castle through May of 2030.  The property was acquired significantly below replacement cost – less than $70 psf versus reproduction costs in excess of $175 psf – in an incredibly tight industrial market with a current vacancy rate of just 4.4% (Q4 2025 Colliers), which should ensure a permanent, competitive basis for years to come.  It was the intent of the Sponsors to sell the cell tower easement within the first three months of ownership to fund future capital improvements and tenant improvement and leasing commissions for new deals.  The tower was sold, as planned, generating $3.5M in proceeds – $700,000 more than the price to acquire the entire property.  Ownership has since gutted and “white-boxed” the interior of the property and is prepared to lease the property with up to three new tenants.