chi-scc (6) The Schaumburg Corporate Center, a three building, one-million-square-foot complex, was recently acquired by GlenStar for $70 million. It plans to spend $30 million on an upgrade, a sign that investors have a lot of confidence in properties near Woodfield Mall.

CHICAGO—Chicago’s suburban office market has struggled ever since the start of the recession. While the CBD came roaring back to life, the suburbs have continued to see businesses pull up stakes and head for new offices downtown. Furthermore, the remaining tenants have continued to “right-size” their office space, putting another drag on leasing activity.

However, beyond the empty, obsolete office campuses, several areas of the suburbs are quite healthy. Many tenants remain committed to suburban locations, and that in turn has led investors to buy up some properties in the region. Therefore, instead of using overall market data to evaluate the suburban market, or even looking at data from the submarket level, it’s now more helpful to separately analyze the portions of various submarkets. And the outlook in some is quite hopeful.

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?


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

Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

More from this author



Join GlobeSt

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

  • Free unlimited access to'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 and

Already have an account? Sign In Now
Join GlobeSt

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