Arbor Lake Centre, a 228,000 square foot class A office building in Deerfield, IL, is a good example of 1980s-era construction, but it needs new amenities to truly compete.
CHICAGO—Well-located suburban properties in the Chicago region continue to draw in investors from around the country who can sense opportunities. Stanton Road Capital, LLC, a Los Angeles-based real estate investment firm, recently acquired Arbor Lake Centre, a 228,000 square foot class A office building located at 1751 Lake Cook Rd., at the confluence of I-94 and I-294 in Deerfield. The property, developed in 1986, was 75% leased at the time of acquisition.
“It's a true class A asset but right now lacks amenities,” Tim Ronan, Jr., founder and managing partner of SRC, tells GlobeSt.com. “It's been owned by the same owner since the mid-80s,” and it needs a capital infusion.
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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.
