"We had always envisioned something there," Pricco says. "Wewere looking up there for office land. Of all the office markets inthe Chicagoland area, that market is doing the best, and it's theonly market that I would build office in today." Pricco says thebuilding will be the only available Class A, LEED-certified officebuilding in Lake County. "We feel the LEED certification has suchan advantage," Pricco says. "It's just the right thing to do, aswell as the fact that more and more of corporate American and theFortune 500 companies located in that submarket are being pushed bycorporate mandate to seek out that type of space if it'savailable."

Construction on the property is scheduled to begin next month,with delivery expected in late 2009. "We feel like there are peoplesitting on the sidelines because they are concerned about thegeneral economy and we feel like there's some pent-up demand,"Pricco says. "Over the next 12 to 18 months, there is going to be aneed in the market, and in fourth quarter of 2009, demand will behigher. We feel our timing and positioning will be good."

Asking lease rates for the space will be around $19, net, Priccosays. Bridge hopes to occupy the building with one or two tenants,though it can be divided into space for up to eight tenants. Thebuilding will have 40,000-sf floor plates, Pricco says.Chicago-based Archideas is serving as architect for the building.Premier Design + Build Group LLC, based in Des Plaines, IL, willact as general contractor. Kevin Clifton and Peter Kelly, both withColliers Bennett & Kahnweiler Inc., will act as leasing agentsfor the space.

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