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Zero-Sum Game in NW Suburban Office Leases

SCHAUMBURG, IL-Nearly 50,000 sf of space is claimed in new lease deals, but they involve companies staying put or moving from one northwest suburb to another, keeping submarket vacancy well above 20%.

By Mark Ruda | Updated on September 10, 2002

SCHAUMBURG, IL-With sky-high vacancy rates in the submarket, recent office leases here are welcome relief for at least a few property owners. However, one of them involves a move from this “edge city” to a neighboring northwest suburb, while another move here is at the expense of another owner in the submarket.

Thermos LLC is moving from the Woodfield Corporate Center in Schaumburg to 21,458 sf at 2550 W. Golf Rd. in the Meadows Corporate Center in Rolling Meadows. Space is being built out at the company’s new location. Chicago-based Equis Corp. handled negotiations for Thermos LLC while Cushman & Wakefield represented the property owner, GSIC Realty.

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