Activity Accelerates in Mid-Range Office Properties

2900 Golf Rd. in Rolling Meadows, IL

CHICAGO—Office landlords in the northwest suburbs have signed a number of significant deals lately, especially those that operate the top class A properties, but under the radar, older, mid-range properties have changed hands with increasing frequency.

Arthur J. Gallagher & Co., the global insurance giant, has just bought 2900 Golf Rd. in Rolling Meadows. Originally built in 1978, the 48,000-square-foot, two-story office property sits on seven acres just east of I-290, and was just one of several similar office properties recently sold, mostly to companies that have decided to expand.