SCHAUMBURG, IL-Janko Group has acquired Parkway Corporate Place, a three-building, single-story office complex here. The Deerfield, IL-based firm bought the 161,000-square-foot property out of receivership from C3 Asset Management in an off-market transaction.

The purchase price was in the mid-$40 per square foot range, representing a significant reduction to replacement cost, according to Randy Tieman, managing director of Janko Group. “To build these buildings, it would cost at least $175 per square foot,” he notes.

Janko Group has experience in suburban Chicago submarket; it currently owns Remington Business Center in Schaumburg, as well as 850 and 900 Arlington Heights Rd. in nearby Itasca. “Our others properties nearby are not of the quality or location of Parkway Corporate Place,” Tieman tells GlobeSt.com. “This property is clearly the best single-story space in the market with a Main and Main location in the center part of Schaumburg.”