1305-1375 Remington Road
Scuamburg, IL | 83,500 SF | Investment
An insurance company held a note secured by this 82,000 SF single-story office building, which was in default. The owner of the property also owed delinquent taxes. Janko Group acquired the lender’s note in 1994 at a substantial discount, paid the delinquent tax bill, and subsequently obtained title to the property.
Occupancy increased from 40% to 90% within six months of Janko Group ownership. Real estate taxes were reduced and have consistently come in below market. Occupancy has averaged over 80% since inception.