True North Investments, a Chicago based real estate acquisition and development company completed construction of a 37,000 sf three-story office structure located at 3000 Woodcreek Drive, immediately West of the I-355, Butterfield interchange in Downers Grove, Illinois. This concrete-etched facility has large window lines, deluxe upgraded finishes, and was built as an office condominium complex. Tim Luby and Carl Manofsky, principals of True North Investments, indicated that they have occupied 5,700 sf of the third floor as their corporate headquarters, and have two units under contract on the first floor, and interest on virtually every other unit in the building. 

Mr. Luby indicated that this office building was built as a high profile building to attract corporate users who want to project their corporate image in this space. The facility features 10’ ceiling heights, granite floors, rich mahogany wainscoat and doors in all the common areas. The available suits range from 2,375 sf to 12,000 sf units. 

True North Investments has announced it has acquired an 115,573 sf facility at 5250 Frontage Road in Forest Park, Georgia. The facility is currently leased to two tenants, Babcock Home Furniture and Sofa Express. 

The two principals, Carl Manofsky and Tim Luby, indicated that this is their first retail acquisition in the Atlanta area although they currently own six industrial buildings in the greater Atlanta market. 

This facility was built in 1984, has concrete tilt up construction, and 26’ ceiling heights. The facility was originally built as a Pace warehouse and underwent extensive renovation in 2001. The building is located immediately East of Interstate 75 where 190,000 automobiles pass this location daily. The facility is fully air conditioned and has metal halide lighting. 

Mr. Manofsky indicated that this acquisition was an opportunity to acquire an excellent facility, with high ceiling heights, immediately adjacent to I-75 near a fully interchange. This an excellent big box retail location with a number of large retailers in the immediate area, including WWW Grainger, Rooms To Go, and J.C. Penney. Consideration for the acquisition was in excess of $6,800,000.