**Arlington Heights Flex Industrial Property Sells for $13M After One Day on Market**
Marcus & Millichap has announced the sale of a 111,667-square-foot flex industrial property located at 545 E. Algonquin Road in Arlington Heights, Illinois. The property was sold for $13 million after being on the market for just one day, and it traded at full list price.
“This opportunity was on market for just one day and traded at full list price, showing the high demand for well-located flex industrial assets in the Chicagoland area,” said Peter Doughty, First Vice President, Investments at Marcus & Millichap. “The property not only provides the buyer with immediate stable returns but also with future upside potential through targeted tenant improvements. We continue to see strong investor interest in industrial and flex properties across the region, especially those offering scale, location, and quality tenancy.”
Doughty, an investment specialist in the firm’s Chicago Downtown office, represented the seller, a private investor, in the transaction.
Originally built in 1990, the property is fully leased to two long-term tenants: Intertek Testing Services and GigeNET. The building offers the buyer both stable cash flow and future value-add opportunities, underscoring the ongoing demand for high-quality industrial assets in metro Chicago markets.
