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.
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.