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Golub Acquires International Tower

CHICAGO—The sale is another sign that investors have regained confidence in some portions of the suburban office market.

By Brian J. Rogal | Updated on November 30, 2014

CHICAGO—Chicago-based Golub & Co. has just put down another bet on the metro region’s office market. The real estate investment and development firm has acquired International Tower, an 11-story, 302,000-square-foot building at 8550 W. Bryn Mawr Ave. in Chicago near O’Hare International Airport. The price was not disclosed, but Cook County property records indicate that Golub paid $40.9 million.

The property has a few things in common with Oak Brook Executive Plaza, a 389,000-square-foot office complex in west suburban Oak Brook that, as reported in GlobeSt.com, Golub recently purchased with its partner Alcion Ventures. Both are older properties far outside the CBD with occupancy rates around 90% and are in vibrant submarkets.

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