Marijuana grower buys Rolling Meadows building

  • This building on the 1100 block of Carnegie Street in Rolling Meadows has been purchased for nearly $3 million by a craft cannabis grower.

    This building on the 1100 block of Carnegie Street in Rolling Meadows has been purchased for nearly $3 million by a craft cannabis grower. Courtesy of Costar

 
Posted6/8/2022 2:20 PM

ROLLING MEADOWS -- Commercial real estate group SVN Chicago Industrial said it negotiated a nearly $3 million sale of an industrial building to a licensed cannabis grower.

John Joyce, managing director of the industrial team of SVN Chicago Industrial, represented the buyer in the sale of the 66,000-square-foot building on the 1100 block of Carnegie Street in Rolling Meadows. Colliers International represented the seller.

 

The industrial facility will house a craft cannabis grow facility, SVN Chicago said. The Rolling Meadows opportunity was selected because of the city's support of the fast-growing cannabis industry in Illinois, Joyce said. A special use permit was awarded to the buyer through a strategic partnership with a land-use attorney.

"We selected Rolling Meadows because the city supported the intended use. With immediate access to the (I-90) Tollway, Route 53 and I-355, and unparalleled pricing, we were able to secure the opportunity to expand the manufacturing area of the plant," Joyce said in a news release.

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