Lee & Associates successfully negotiated the sale of a 106,380-square-foot office building in Northwest Suburban Schaumburg, Illinois for $3.52 million. The Class A property, located at 930 National Parkway and adjacent to Woodfield Mall, was originally constructed in 1989 for Cellular One and later occupied by Cingular and AT&T.
Senior Vice President Tony Russo and Vice President Ryan Freed represented the seller, Somoha LLC while the buyer National India Hub Foundation (a national Indian-American organization focused on local community outreach) was self-represented.
National India Hub Foundation has plans to transform the building into a multi-purpose community center featuring a charity clinic, conference rooms, indoor sports center auditoriums donation centers and event spaces.
“In today’s challenging commercial office market,” said Russo “creative thinking is necessary when repurposing existing buildings. The acquisition by National India HUB Foundation exemplifies this approach.”
