LAKE FOREST, IL-Duke Realty Corp. is buying nearly 10 acres at 200 N. Field Dr. in Conway Park, at Route 60 near Interstate 94. Duke acquired the property from Wintrust Financial Corp., based here. The sales price was reportedly $11 million. The company plans to construct a 170,000-sf speculative office building on the site with an estimated cost between $35 million and $40 million, says Steve Schnur, SVP of Duke’s Chicago office group.

The four-story building is expected to be a single-tenant building, like the majority of the buildings in Conway Park, he says. Construction is expected to start in June and be completed in the summer of 2009, Schnur says. Asking lease rates have not been determined yet, but the asking lease rate for the market is $20 per sf net, he says.Duke is still working on designs for the building

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.