Commercial real estate group SVN Chicago Industrial said it negotiated a nearly $3 million sale of an industrial building to a licensed cannabis grower.
John Joyce, managing director of the industrial team of SVN Chicago Industrial, represented the buyer in the sale of the 66,000-square-foot building on the 1100 block of Carnegie Street in Rolling Meadows. Colliers International represented the seller.
The industrial facility will house a craft cannabis grow facility, SVN Chicago said. The Rolling Meadows opportunity was selected because of the city's support of the fast-growing cannabis industry in Illinois, Joyce said. A special use permit was awarded to the buyer through a strategic partnership with a land-use attorney.
"We selected Rolling Meadows because the city supported the intended use. With immediate access to the (I-90) Tollway, Route 53, and I-355, and unparalleled pricing, we were able to secure the opportunity to expand the manufacturing area of the plant," Joyce said in a news release.
Source: www.dailyherald.com