The Mid America Plaza, which has two buildings in Oakbrook Terrace, is now for sale.
The property spans over 413,000 square feet and is across from the massive Oakbrook Center shopping mall. It had previously been for sale in April three years ago but was never sold due to several challenges in the market.
JLL Brokers has been hired by Equus Capital Partners to sell the property. JLL representatives involved in this sale are Bruce Miller, Jaime Fink, Sam DiFrancesca, and Partick Shields.
The two buildings are leased at 87%, with the average lease at about six and a half years. Among the office tenants are Crow, BCS Financial, and Garycor Services, while Mike Ditka’s Restaurant is one of the restaurant tenants. All have renewed their leases within the past four years.
The property was purchased by Equus in 2016 for $78m. The company invested an additional $17.7 million in the property to update the lobby and other common areas, amenities, and mechanical systems.
Mid America Plaza is being promoted as an opportunity to purchase an established property for less than it would cost to build a similar space today. There is also the potential to lease the remaining vacant space, some of which is spec suites that are ready for moving in.
Brochure printing can be used to highlight the benefits of such purchases for the buyer and those leasing space.
Location
17W733 Butterfield Road
Suite A
Oakbrook Terrace, IL 60181
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Tue: 8:30 - 4:30
Wed: 8:30 - 4:30
Thu: 8:30 - 4:30
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