Chicago development firm DeNovo Properties LLC recently purchased a 44,500-square-foot vacant industrial building at 5400 N. Teutonia Ave. from Glendale-based Johnson Controls Inc.
The sale price was not disclosed. The 61-year-old building has an assessed value of $200,000, according to city records.
The building was previously used as a battery factory, but has been unused for about three years said Bob Dufek of Dufek Realty LLC, who brokered the deal for both the buyer and seller.
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DeNovo plans to redevelop the building and lease it out as a multi-tenant industrial facility, said Dufek, who will handle the leasing of the building for DeNovo.
