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Business Observer Friday, Sep. 16, 2022 2 weeks ago

Illinois company pays nearly $6 million for Fort Myers industrial properties

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An LLC with ties to a Chicago-area real estate firm bought the three buildings on Idlewild Street and Plantation Road.
by: Louis Llovio Commercial Real Estate Editor

A suburban Chicago company has bought three industrial buildings in Fort Myers.

The properties are on Idlewild Street and Plantation Road and sold for $5.95 million. They total 38,873 square feet. 

LSI Cos., the Fort Myers commercial real estate firm which represented the seller, Positive Improvements, says the buyer was Spitzer Cook LLC.

The company is an Illinois LLC whose address in Hillside, Illinois, is the same as the one for FS Real Estate, a real estate investment firm. The address also belongs to a road construction company called Orange Crush.

Orange Crush and FS also list a shared phone number their individual websites. A person answering the phone Friday afternoon, Sept. 16, says the companies are different but “the same people.”

FS Real Estate says on its website that it has been family owned since 1988 and has bought more than 30 investment properties across several sectors. Among the properties listed on the firm’s online portfolio is an industrial building at 511 Leonard Blvd. N. in Lehigh Acres.

That property was bought last year for $1.2 million by another LLC which is registered at, you guessed it, the same Hillside, Illinois, address as all the rest.

There was no information immediately available about what the new owners plans to do with the industrial buildings.

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