Elmhurst Property Sells For $5.4M

ELMHURST, IL — A major Elmhurst industrial property sold for $5.4 million in a deal that closed Wednesday, a real estate agent involved in the transaction reported. The property is at 776 N. Oaklawn Ave., the longtime site of Fast Heat.

Vickie Soupos, a real estate broker with Colovos/Soupos Real Estate Group Re/Max Destiny, said the property was sold to a family-run, light manufacturing company. "They're expanding, so they needed more space," she said in an interview.

The property, which has been largely vacant for some time, received multiple offers and sold at 97 percent of its asking price, Soupos said.

The 3.5-acre lot contains a 75,000-square-foot building, which was built in 1983, according to the real estate listing. It is in an industrial park and a mile away from the Interstate 290-Route 83 exchange.

The buyer was represented by Joe Bronson of NAI Hiffman. Bronson said he didn't have permission yet to reveal the new owner's name.