Plans in place to renovate Butterfield Office Plaza

Butterfield Office Plaza

Clear Height Properties and its JV partner Corcoran Commercial Real Estate, have launched the renovation and repositioning plans for 26Twentyfive, formerly known as Butterfield Office Plaza which was acquired in July. 

In conjunction with the launching of that program, the partnership has retained Oakbrook Terrace-based NAI Hiffman to lead the rebrand of the property and manage and lease the building. Executive Vice President Dan O’Neill, Senior Vice President Adam Johnson and Associate Ryan Maher of NAI Hiffman have been retained by the new owner to lead the leasing efforts. In doing so, the NAI team will leverage a modern brand, new name and website while differentiating the project from the many office centers, plazas and parks in the greater Oak Brook area. 

2625 Butterfield is a 200,774, square-foot, multi-story office building situated on 10 acres with premier visibility from the I-88 Tollway. The property has office spaces available for lease ranging in sizes from 700 to 9,000 square feet. 

“26Twentyfive, is an exciting edeavor for us,” said Dominic Sergi, CEO and president of Clear Height Properties. “We are excitied to reposition this asset into a new modern workplace environment that will inspire users of various sizes.”

A robust capital and redevelopment plan has been established for the asset in the coming months. Chief among the priorities for the renovated and repositioned 26Twentyfive include further amentizing the asset with the addition of modern conference facilities, fitness center, refreshed entrance, lobby and expanded WiFi lounge. 

“The amenity race isn’t just for the trophy, class A assets anymore. Businesses looking to attract a multigenerational workforce while providing a premier location for its employees and clients is important more now than ever,” Johnson said. “We are excited to work with Clear Height Properties to breathe new life into a well-located office asset, with outstanding, untapped potential.”

Press release issued by NAI Hiffman.

Featured in Daily Herald.

New spec industrial building strategically located at Western Bypass

A joint-venture between Distribution Realty Group and EverWest Real Estate Investors announced its plans to develop an approximately 190,000 square foot speculative industrial building at 220 York Road in Bensenville, Illinois.

Located in DuPage County, the building will feature modern Class A characteristics including 32′ clear ceiling heights, LED lighting with motion sensors, attractive storefront glass, up to 37 dock doors, and ample auto parking. The building is designed to appeal to high end warehouse and logistics companies seeking top-tier space in O’Hare.

“The assemblage of 26 parcels on 10 acres adjacent to the Illinois Route 390 and O’Hare International Airport created a best-in-class logistics location,” said Curran Darling, DRG’s Senior Vice President in Chicago. “From this facility, our customers can take advantage of O’Hare’s South Cargo Entrance from a low DuPage County tax location, along with great connectivity to the new Western Bypass which provides immediate access to Chicagoland’s interstate system.”

“Our firm views Chicago as one of the country’s most important logistics hubs,” said James Love, Managing Partner of DRG, “and we look forward to adding our 10th facility to the O’Hare submarket.” 

The venture has hired Sam Durkin and Dominic Carbonari of JLL to market the property for lease on its behalf. Arco Murray will construct the building on behalf of the partnership.

Distribution Realty Group LLC

Distribution Realty Group LLC is a privately owned industrial real estate firm with offices in Chicago and Nashville. The firm has acquired and developed over 3 million square feet of industrial and distribution facilities since its founding in 2013. For more information, please visit www.distributionrealty.com.

EverWest Real Estate Investors

EverWest Real Estate Investors is a real estate investor and operator located in Denver, Colorado.  The company was acquired by Great-West Life’s real estate advisory platform in February 2018 to help expand their international presence. For more information, please visit www.everwest.com. 

Featured Property: Brewster Creek Business Park

Brewster Creek Business Park

Located in the DuPage County portion of the Village of Bartlett, Brewster Creek Business Park is a former gravel quarry turned growing business park developed through a partnership between the Village of Bartlett and Elmhurst-Chicago Stone Company. 

Currently home to 90 businesses many of which reside within industrial condominium units in addition to the free-standing buildings, Brewster Creek will have 40 buildings totaling four million square feet with the recent completion of two more in recent months.

Industrial real estate developers Exeter Property Group, Ridge Development and G4 Development have recently completed speculative buildings, and Village economic development staff is partnering with the brokers in an effort to attract more quality tenants to Brewster Creek.  

Emerging Food Cluster

Food giant Greco & Sons was the first major food distributor to locate in Brewster Creek Business Park, followed by Get Fresh Produce, Rana Meal Solutions, Cheese Merchants of America and candy packager creative werks in the following years. Thermo Fisher Scientific tests food safety in their Brewster Creek location. Each of these companies found Brewster Creek’s available reasonably priced land, DuPage County taxes, access to a strong workforce and proximity to State highways ideal for their Chicago area location.

Together, these businesses employ well over 1,000 and provide high-quality food products to many restaurants, grocery stores and other clients throughout the Midwest and the country.

German High-Tech Precision Cluster

Bartlett’s pro-business attitude has also attracted several high-precision German-based advanced manufacturers including Herrmann Ultrasonics, Wittenstein, Bremskerl and BBS Automation in recent years. With a newly formed relationship with the German-American Chamber of Commerce, Bartlett has welcomed these companies with open arms in a continuing effort to strengthen the Village’s tax base and increase foreign direct investment in DuPage County.  

Automotive Cluster

Midwest Molding, Bremskerl, Winhere Brake Parts and Auto Truck are four Brewster Creek businesses in the auto supply chain. With Winhere Brake Parts relocating to Bartlett in early 2017, these companies have found their Bartlett location ideal to attract and retain a high quality workforce thanks to local workforce development programs.  

Strong Workforce

Another competitive advantage of Brewster Creek is that innovative businesses have found the Bartlett area’s talented workforce to possess the training, education and skills to help their companies grow and prosper. The Village has partnered with local workforce development organizations including the Chicago Cook Workforce Partnership, Elgin Community College’s Workforce Development program and the recently-launched Workforce Development Center in neighboring Hanover Park.  

Village Staff assists companies with meeting with one or more workforce development partners to help facilitate the recruiting and hiring of the workers whether entry-level, technically skilled or management professionals.  

Open to the Public

You can board your dog, bring your pet to the veterinarian, learn self-defense and improve your fitness in Brewster Creek Business Park. Although most of the 90 businesses in Brewster Creek Business Park are wholesalers, contractor offices, manufacturers and other B-to-B businesses, Bark Avenue Daycamp, Bartlett Animal Hospital, Xtreme Training Academy and Frontier Fitness are open to the public in Bartlett’s premier business park.

Brewster Creek Business Park List

The list of businesses located in Brewster Creek continues to grow year after year, and should continue to expand in 2017 and beyond as the Chicago area industrial market continues growing.  From a logistics and distribution standpoint, Brewster Creek is ideally positioned for growing companies to serve their customers more efficiently while enjoying an attractive and safe setting for their employees, customers and vendors.   

Click here for the 2017 list.   

New Buildings and Available Space

Contact Tony Fradin at (630) 837-0800 or tfradin@vbartlett.org to discuss how your client or your own business can become part of this strong and diverse business park or for a personal tour of Brewster Creek Business Park.  

Luxury Amenities, Restaurant Planned for Marq on Main Apartment Complex in Downtown Lisle

Development in Downtown Lisle

Proximity to the Lisle commuter station is not the only attraction of Marq on Main, the mixed use residential community currently under development on the site what once was the Old Village Hall in Downtown Lisle. The project has a host of luxury amenities to offer residents seeking the vibrancy and convenience of downtown living coupled with the small-town ambience and natural surroundings of the “Arboretum Village.”

 

The mixed-use development includes 202  1- and 2-bedroom apartments in five stories on Burlington Avenue and three stories along Main Street, with indoor parking for residents and tenants, as well as 35 new on-street parking spaces. Some 15,000 square-feet of new commercial space will add restaurant and retail uses that will strengthen the commercial district, build foot traffic and enhance the downtown as an attractive dining destination. The development will feature a new public plaza offering outdoor dining at Main and Burlington, as well an additional public plaza at Spencer and Burlington, and two rooftop courtyards providing along Burlington Avenue. An upscale restaurant and craft beer tap room is planned.

 

“We are pleased to be adding to the vitality of Downtown Lisle,” says Marquette President and CEO Nick Ryan. “Mayor Broda and the Village have remained committed to economic development and this transit-oriented development is the type of development that has seen great success in surrounding communities. We expect to see the same energy and interest in downtown Lisle.”

 

Amenities residents can enjoy include a resort-style pool with cabanas and sun deck, as well as a pergola lounge, fire table and grilling stations. Indoors, residents will have access to a tech lounge and a chill lounge with coffee available 24-hours. An onsite health club is also planned. The development brings an investment of $45M to downtown Lisle, and is now leasing for an expected Fall 2017 opening.

 

Luxury rental development breaks ground adjacent to Hamilton Lakes Business Park in Itasca

 

When you think of luxury rental developments, what do you picture? Modern apartment towers rising from the busy downtowns of major cities, right? That doesn’t have to be the case. The suburbs might not get as much press when it comes to new multifamily projects, but plenty of developers are bringing high-end rental units to suburban communities across the Midwest.

Continue reading

DuPage Business Center is Open for Business

CenterPoint Properties announced today an extended and modified agreement between the company’s DuPage Business Center in West Chicago and DuPage County. CenterPoint now boasts the ability to purchase land in the development along with strengthened partnerships with the City of West Chicago and the DuPage Airport Authority. The terms also include CenterPoint’s continued rights as the park’s sole developer and Jones Lang LaSalle as its exclusive agent. Continue reading