Search
 

North Suburban Offices Getting Upgrades

CHICAGO—The submarket has a good deal of older, somewhat obsolete product, making it important to stand out.

By Brian J. Rogal | Updated on October 21, 2015

CHICAGO—It’s well known that portions of the suburban office market remain in the doldrums. But at the same time, the best class A properties have been attracting marquee tenants and commanding solid rents since the recovery began. Therefore, some suburban owners have decided now is the time to make sure their properties can distinguish themselves from competitors in the market. 

A partnership between Romanek Properties, Bachmann Associates and Syndicated Equities, for example, recently received a $19.63 million refinance for its 400 Skokie Blvd. in Northbrook, a 195,000 square foot class A office facility. And the owners have decided to dedicate $2.53 million from the deal to a capital building program that will improve its amenities and boost occupancy. 

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.