The Reserve at Deer Park, Suburban Chicago, Illinois

A 7 storey property on a 57 acre site with a 13-year lease to Continental Automotive. There’s an opportunity to add significant value through the letting of the upper floors following a capital works programme.

  • The property comprises a 7 storey modern office building constructed in 2001 with parking, on a 57-acre site.
  • It’s located in a northwest suburb of Chicago, an affluent residential area as well as home to many headquarter office buildings providing easy access both to downtown Chicago and O’Hare International Airport.
  • Acquired by Continental Automotive, the transaction was a 13-year sale and leaseback with annual fixed rental increases to Continental on the majority of the accommodation.
  • Continental covers the costs on the upper 5th, 6th and 7th floors for which new tenants are being sought.
  • To attract new tenants a capital works programme is being undertaken including additional parking and a new dedicated entrance. A comprehensive marketing strategy is being implemented.

Click here for the official Reserve website.

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Acquisition closed:

09/2014

Location:

42.156 North
88.048 West

 

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