'GlenStar is doing all the right things as an investment and property management firm should,' says Larry Ressler, President of Midland-Frantz Construction Group, Inc.
Chicago, IL (PRWEB) October 31, 2013
Chicago-based tenant improvement company, Midland-Frantz Construction Group, Inc. reports another successful project acquisition agreeing to take on the renovations and upgrades to the interior of Continental Towers located at 1701 Golf Rd, Rolling Meadows.
Acquired in the spring of 2013, the property is a joint venture between two Chicago-based commercial real estate investment firms - GlenStar Properties LLC and Walton Street Capital LLC. According to sources, the 911,000 square-foot property was purchased for about $65 a square-foot, giving them an advantage over competing properties in the area.
GlenStar continues to show an aggressive approach to the marketplace by undertaking high vacancy properties, like their April 2012 acquisition of two thirds of the Chicago Board of Trade Building. With increasingly high competition in the Chicago north and northwest suburbs, GlenStar evidently has big plans for Continental Towers to compete in 2014.
GlenStar recently hired Midland-Frantz to completely renovate the interior of the buildings. Currently, Midland -Frantz is managing and contracting the tenant improvement of about twenty mens and womens bathrooms plus multiple corridors. The project features upgrades that include new ceilings, new wall covers, retrofitted energy efficient lighting, wall sconces, brand new tile and carpeting.
“GlenStar is doing all the right things as an investment and property management firm should,” says Larry Ressler, President of Midland-Frantz and former VP of Commercial Construction for the nation’s largest real estate development company - Heitman. “If you want a chance at success, you need to be one of the better-quality buildings in the marketplace at a cost basis that makes you both competitive and profitable.”
While staffing and developing the best quality union construction employees in the state, Midland-Frantz has been servicing the commercial real estate market in Chicago for almost 20 years with over 20 million square-feet of commercial construction and tenant improvement experience.
“We’ve been building spaces out in Chicagoland for a long time,” adds Ressler, “and after almost 20 years, I can happily say I’ve never had to retain an attorney.”
Offering complimentary services like budgetary construction cost estimates and construction management services, Midland-Frantz is a complete design and build solution for commercial construction and tenant improvement projects. To request a complimentary construction budget estimate, visit http://www.midlandfrantz.com.