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News release

Chicago

Jones Lang LaSalle Named Exclusive Broker for 272,422-SF Industrial Complex in Libertyville

Former Tempel Headquarters Complex Now Available for Sale or Lease


CHICAGO, March 26, 2010 — Jones Lang LaSalle announced today that it has been retained by The Tempel Steel Company to market the Tempel Steel Complex, a 272,422-square-foot industrial complex located at 2200 Tempel Drive in Libertyville, Illinois. The Complex is the largest industrial availability of its kind in Lake County. 

Jones Lang LaSalle’s North Market Industrial Team’s Robin Stolberg, Vice President, and Kurt Sarbaugh, Senior Associate, will lead marketing efforts.

The manufacturing and distribution facility is located on a 17.94-acre site allowing for various expansion scenarios.  Existing infrastructure includes nearly 20,000 square feet of headquarter-type office space, an additional 14,000 square feet of mezzanine office/training space,  11 cranes, T-5 lighting and 260+ car parking.

“The Tempel Steel Complex is a unique offering in Lake County.  The list is extremely limited of like-kind assets which are capable of providing competitive attributes,” said Stolberg.

Tempel Steel was founded in Chicago by Tempel Smith 63 years ago.  The Complex was originally built in 1966 and has been continuously upgraded, inclusive of extensive 2009 renovations.   The company vacated the facility in late 2009, consolidating its manufacturing operations within its other plant located on Chicago’s North Side.

The listed sale price is approximately $9.5 million. The Complex is also available for lease with an asking rate of $3.50 p.s.f. net. The Complex is available for immediate occupancy.
  
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.4 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $40 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.