CHICAGO—As reported in GlobeSt.com, the suburban market office saw absorption and rental rates tick upward in 2017, especially among class A properties, and investors seem more eager to buy up available buildings, including value-add opportunities.
Ameritus Real Estate Investment was just the latest firm to secure a deal. The Chicago-based group paid Syndicated Equities $20,950,000 to acquire 400 Skokie Blvd. in Northbrook, IL. A middle market investment advisory team from Podolsky Circle CORFAC International, comprised of Alissa Adler, managing principal, John Homsher, principal, and Paul Tesdal, senior vice president, represented the seller.
Like many 1980s-era suburban developments, 400 Skokie Blvd. was recently given a makeover, and has the kind of amenities that tenants say they need to attract and retain employees. Currently 77% leased, the eight-story, 195,326 square foot building now features a Wi-Fi café, fitness center, conference center, on-site storage as well as two balconies on the second floor.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
