Ryan's Oakmont Point will provide its tenants with an interactive, park-like setting.

CHICAGO—A lack of modern, new class A office space in the western suburbs has led one Chicago-area developer to launch several projects to meet that need. Ryan Cos. US, Inc. has completed the acquisition of 700 Oakmont Ln. in Westmont, IL, from Lexington Group for an undisclosed purchase price, and plans to create an 18-acre, urban-style office complex called Oakmont Point. In addition, last year it acquired an 11-acre parcel along the western side of York Rd. in Oak Brook. It recently secured an office user for that entire site, and will probably start construction this spring on a new development with an array of amenities.

“There are many companies that want to locate in the suburbs,” Jim McDonald, vice president of development, Ryan Cos., tells GlobeSt.com. “Not everyone needs a downtown location to attract talent,” as many workers, especially those with young families, still prefer suburban homes. And both Westmont and Oak Brook, at the eastern end of the tollway and between O'Hare and Midway airports, provide excellent locations. The combined volume of the new developments could exceed $75 million.

Ryan officials envision a multi-building office complex at Oakmont Point that could accommodate up to five corporate users with space requirements ranging from 25,000 to 275,000 square feet of space, along with 200 indoor parking stalls and abundant surface parking. The property currently has a single three-story office building with approximately 275,000 square feet of space.

But it is the amenities that will help set off Oakmont Point. “Amenities have been a part of class A suburban office for decades,” says McDonald, and many of these buildings already have food service or small fitness centers. Many of these services, however, feel like afterthoughts, and Ryan wants to make its developments more interactive.

“These will not be just standalone office buildings,” he says. “Rather than going down to a deli in the basement,” tenants will have access to restaurants “that are more retail in feel,” as well as outdoor seating around a 3.6-acre pond. He points to the recent addition of a Michael Jordan's Restaurant to Oak Brook 22, formerly known as Oak Brook Executive Plaza, which Golub Co. bought in 2014, as a good example of how suburban offices can better provide class A amenities. “We're going to bring that to Westmont.”

“The real advantage and marketability of this opportunity is the inherent flexibility it offers,” he adds. “We have the ability to take our broader vision for Oakmont Point and shape it according to a single corporate headquarters facility, or a series of them with varying space requirements.”

According to Curt Pascoe, director of development, Ryan Cos., the company will remove and replace the entire building envelope to upgrade energy efficiency and renew the architectural design. Furthermore, it can create floorplates more typical of modern class A space. Across the street, an additional five-acre lot is available for up to 110,000 square feet of build-to-suit space as part of the larger campus or for a separate user.

In addition to owning the property, Ryan also will provide development, design-build and real estate management services. Ryan A+E, Inc., the in-house architecture and engineering division of Ryan Cos., has created the aesthetic vision for Oakmont Point. Bill Elwood, executive vice president, CBRE, along with his colleague Tara Torbik, an associate at CBRE, have been brought on by Ryan to market Oakmont Point.

“What Ryan A+E has done in designing Oakmont Point is very impressive,” Elwood says. “They have created today's urban-style 'cool' factor in a market that is proliferated by '80s-style architecture. Over the years several owners and developers have tried to make the site and the development work. Ryan's vison and solution creates a great blueprint for corporate users.”