(Save the date: RealShare Chicago comes to the Union League Club of Chicago October 23.)
CHICAGO-Chicago may be a bit late on its commercial real estate spring cleaning but as the saying goes, “it’s better late than never.” Hot on the heels of GLL’s proposed changes to 444 N. Michigan come big plans for One O’Hare Center – a building, coincidentally, also owned by GLL Realty Partners. Until now.
The building has been sold to CBRE Strategic Partners US fund series. And what are they going to do with the trophy office property? Give it a significant facelift, among other things. The building will experience a systems upgrade and owners will be looking to make it a greener place; the company says it plans to pursue LEED certification, the level of which has not yet been revealed. The property will also undergo an amenities revamp in line with Strategic Partners’ 5-Star Worldwide Program.
One O’Hare Center is a 12-story trophy asset spanning 380,360 square feet. It is currently 89% leased.
Neither GLL or CBRE could be reached at press time for comment or to reveal the sale price.
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