Acquisitions & Opportunistic Ventures
The Granite principals search for opportunistic ways to create value in commercial real estate ventures. We see barriers as an invitation to creation of value. Over the years, Granite Realty Partners has created significant value for itself and its investors through a variety of entrepreneurial and opportunistic ventures. Granite has acquired land, removed development hurdles and sold it. Granite has purchased buildings and flipped them. We have renovated industrial buildings, purchased raw land and built an office building. We are constantly evaluating new opportunities, from the purchase of non-performing debt, to the acquisition of unsold condominium units.
Northbrook, IL This property was acquired as short sale between the prior owner and its lender. A 23,000 sf industrial building was redeveloped into an athletic center and is fully leased.
Chicago, IL Granite purchased this 5,000 sf former garage and was redeveloped into a creative, modern office space and one luxury apartment.
Chicago, IL Granite purchased this building from an old-line bookbindery and leased it back to them for two years. After they moved out, Granite completed remediation sold the building to a high-end auction house.
Oak Park, IL This building was purchased and re-sold in an opportunistic acquisition.
River Forest, IL On this site, Granite built a new 9,000 sf medical office facility for the Rehabilitation Institute of Chicago.
Forest Park, IL Granite purchased this former insurance claims facility from State Farm. While designing the site for a 60-unit townhouse project, we were approached by another developer and sold the project for an outstanding return.
River Forest, IL This 85,000 sf property was an abandoned lumber yard owned by the bank. Granite successfully negotiated the purchase, designed a residential complex, had the land reappointed, and then sold it to another developer.
Forest Park, IL This former factory had been purchased by a developer for a condominium and townhouse project. After the project stalled, Granite purchased it and re-sold it sixty days later.
Oak Park, IL For two years Granite controlled this prime parcel, working with the seller and the Village to remove various barriers on the site. Upon completing successful hurdles, Granite sold its interest in the site.
Oak Park, IL The former US Post Office site had been owned by an Oak Park family for decades. After the Post Office closed, Granite purchased the site, demolished the building, remediated the site from environmental damage and then sold.
Oak Park, IL Granite purchased this site from a developer who had assembled it but who was unable to move forward. After procuring approval rights, Granite sold the site to a developer who built 60 town homes.
Fort Wayne, IN Granite purchased this 280,000 sf warehouse and held it for over ten years.
Oak Park, IL Granite purchased 3 buildings and a vacant lot from a Wisconsin based bank who gained title to the properties through a foreclosure. Within six months of its purchase, Granite was able to sell the four properties to four individual buyers.
Chicago, IL Granite purchased this 140,000 sf, historic building in the Chicago's Loop. It was acquired through the purchase of a Note and then delivery of a deed-in-lieu of foreclosure. It was sold 24 months later for a substantial return.