October 29, 2019 Comments Off on Office Trio in Western Suburbs Comes to Market Views: 352 Chicago News, Greater Chicagoland

Office Trio in Western Suburbs Comes to Market

Order Reprints...

American Landmark Properties aims to unload a trio of office properties in Chicago’s western suburbs for around $40 million, Crain’s Chicago Business reported.

The Skokie-based investment firm acquired the Oak Brook Place complex in Oak Brook, 2 TransAm Plaza Dr. in Oakbrook Terrace and 750 Warrenville Rd. in Lisle between 2014 and 2016, paying approximately $38 million.

HFF, now part of JLL, was hired to market the 391,522-square-foot trio, collectively known as the East/West Corridor Office Portfolio, according to a market flyer. The three-asset, four-building portfolio is collectively 80.8% leased, with a roster that includes credit-rated tenants Old Republic, Humana, Hyundai and Trinity Health.

The portfolio’s largest tenant accounts for just 6.7% of the net rentable area, according to the flyer. No industry accounts for more than 26.7% of the space.

Since 2015, American Landmark has reportedly spent $3.4 million on capital improvements.

There’s still time to register for Connect Chicago Fall 2019, taking place Oct. 29 in Chicago. For more information, or to register, click here.

Read more at HFF

Connect With HFF Chicago

Subscribe to Connect Daily Chicago

For comments, questions or concerns, please contact Paul Bubny

Tags: ,

Comments are closed.

Send this to a friend