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PODOLSKY RECEIVING AGAIN

Chicago

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PODOLSKY RECEIVING AGAIN

Receivership is nothing new to 40-year-old Podolsky Northstar CORFAC International. Recently named court-appointed receivers for suburban office and industrial buildings, it's filling a gap for clients while they wait for development to come back.

 
Podolsky's John Homsher, Randy Podolosky, Steven Podolsky and Corey Chase

We snapped John HomsherRandy PodoloskySteven Podolsky, and Corey Chase  at their Riverwoods office on Friday. The principals were recently named receivers for two 100k-SF industrial buildings in Tinley Park and a flex warehouse/office in  Aurora, some of their first properties in the latest recession. Podolsky also plans to develop a build-to-suit office or residential/office project on the site of the Promenade Bolingbrook near I-355 and Boughton Road.

 
Podolsky's John Homsher, Randy Podolosky, Steven Podolsky and Corey Chase

Also in progress: the Orchard 88 Business Park, which will include medical office, flex, and office in Aurora. Randy says Podolsky advised clients to sell during 2006 and 2007 in anticipation of the recession, and now may start to buy properties again over the next 18 months. All four have been at the company for more than a decade—The Podolsky brothers have been working with companies like Jewel-Osco  and Wilson Sporting Goods for over 30 years. Their 18-person suburban Chicago office teams with international members of the CORFAC network to provide global services.