WoodlandCorporate Tower at 1333 Butterfield Rd. in Downers Grove, IL, was48% leased last October, but that's now up to 93%.
CHICAGO—The suburban office market around Chicago recentlyexhibited some strength, and in certain submarkets, itmay even qualify as a turnaround. Owners of buildings in townslike Oak Brook, Downers Grove, or in the area around O'HareAirport, have found that spending several million dollars onrenovations can attract enough tenants to fill up properties onceplagued by vacancies.
Stanton Road Capital purchased WoodlandCorporate Tower at 1333 Butterfield Rd. in Downers Grove, IL, lastOctober when it was 48% leased, but Colliersexecutives Francis Prock and DavidFlorent recently signed several leases – totaling 74,760square feet –bringing that up to 93%. And Florent tellsGlobeSt.com that committed ownership was the key.
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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.
