Real estate deals of the week

Last updated on May 13th, 2019 at 02:40 pm

Chicago developer buys West Bend land for retail development.

IBT Group LLC, a Chicago-based real estate development and asset management firm, recently purchased 2.917 acres of land at 806-08 W. Paradise Drive, West Bend, from West Bend Partners Limited Partnership. IBT is planning to do a retail development on the site. Tom Bruss of Commercial Property Associates represented West Bend Partners, and Jason Frederick of The Boerke Company represented IBT Group in negotiating the property sale. Paradise Drive is a major retail corridor in West Bend. The property purchased by IBT is on the north side of Paradise Drive behind a Texas Roadhouse restaurant and between a Home Depot and Sportsman’s Warehouse store. “We have bought the land and plan on doing a project there,” IBT president Gary Pachucki said. “I have a tenant in mind.” He declined to provide further details about the project.

Combex Inc. d.b.a. Chaney Instrument Company recently leased 29,822 square feet of industrial space at 999 S. Wells St., Lake Geneva, from Trostel Specialty Elastomer Group Inc. Chaney Instrument Co.’s headquarters are located next door at 965 S. Wells St. Jon Packee of The Boerke Company Inc. represented Trostel Specialty Elastomer Group., and Vytau Barcas and John Henderson of NAI MLG Commercial represented Chaney Instrument Company. Founded in 1943, Chaney Instrument Co. manufactures clocks and thermometers. Chaney previously used third-party logistics suppliers, but the company has decided to handle its own warehousing and logistics, Packee said.

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