Joint Venture Purchases 171,933 SF Office Building in Oak Brook, Illinois
OAK BROOK, ILL. — A joint venture between Clear Height Properties and Buligo Capital has purchased 814 Commerce Drive, a three-story, 171,933-square-foot office building in the Chicago suburb of Oak Brook. The purchase price was undisclosed. The buyers plan to reposition the building, which was constructed in 1990. Improvements will be made to the exterior façade, building entryway, lobby, common areas and landscaping. Commercial real estate firm IRC leases 43,000 square feet at the building and Innovista Health occupies 41,000 square feet. DeVry University, which currently leases 66,500 square feet on the second floor for its Oak Brook campus, plans to relocate. Art Burrows, James Adler and Dan O’Neill of NAI Hiffman represented the seller, Elliott Management. NAI Hiffman has been named the exclusive marketing and property management representative for the property.