Occupancy at Riverway, built in 1987 and connected to a Marriott Suites Hotel, is 77%. Cushman & Wakefield of Illinios is marketing the space, which is going for an asking of $16.00 net per sf. The buildings include retail space occupied by tenants that include Carlucci's restaurant. At the two-building O'Hare International Center at Higgins and Mannheim roads, occupancy is about 85% and Colliers, Bennett & Kahnweiler is marketing space at $16 per sf.

"While we know the Chicago office market has been a difficult market, we believe the O'Hare submarket is, and will continue to be, one of the strongest submarkets," said Duke Realty Corp. president and chief executive officer Dennis Oklak during his company's earnings conference call. "There are limited development sites, absorption has been picking up, and there is a $14-billion planned expansion of O'Hare International Airport."

However, vacancy in the O'Hare submarket, including sublease space, stands at 23.3%, according to US Equities Realty's most recent office market report. On the other hand, vacancy is 25.4% in the much larger East-West Corridor, where Duke Realty Corp. owns more than 1.6 million sf. "We've always liked the O'Hare submarket, but haven't penetrated it," said Oklak, whose company's only holding in the area is the 95,600-sf O'Hare Corporate Centre at 1300 W. Higgins Rd. in Park Ridge. "We think rents have pretty much bottomed."