CHICAGO—Historic buildings in the River North area, along with those in emerging neighborhoods like Fulton Market, have provided the CBD with a great deal of creative office space. And companies that need to attract the millennial generation have responded, filling up lofts and pushing down vacancy rates. That success has led Chicago-based Farpoint Development to bring this development strategy to the suburbs.

Founded in 2016 by a group of principals from Sterling Bay, the firm perhaps most identified with the transformation of the once-industrial Fulton Market, Farpoint and its partner Greco/DeRosa Investments just purchased the 6300 North River Road building in suburban Rosemont. And they plan to transform the property, built in 1969, into something unique.

“There isn't a boutique loft office building in the area around O'Hare Airport,” Regina Stilp, a founding principal of Farpoint, tells GlobeSt.com. But by mid-2018, the company will have ditched the 137,000-square-foot structure's old-fashioned drop ceilings, along with other features that make so many suburban properties unappealing to younger workers.