Randall Commons
1205 Oak Street · North Aurora, IL 60542
The Randall Commons acquisition consisted of two (2) office/medical condominiums—a 2,199 square foot unit and a 2,268 square foot unit.
Gateway Investment Partners owns two (2) office/medical condominiums in the Randall Commons complex at a purchase price that was significantly below both replacement cost and current market value. Specifically, the acquisition consisted of a 2,199 square foot unit and a 2,268 square foot unit which could also be combined to create a 4,467 square foot unit. The purchase price was $155,000 or $34.70/square foot.
GIP agreed to lease approximately 2,900 square feet to Kaneland Allergy Asthma Center. Tenant improvements will begin shortly with occupancy beginning in July of 2016.
YEAR COMPLETED
2016
PROPERTY TYPE
Office Building
TOTAL SIZE
4,467 ft²
INVESTMENT