Arbor LakeCentre, a 228,000 square foot class A office building in Deerfield,IL, is a good example of 1980s-era construction, but it needs newamenities to truly compete.
CHICAGO—Well-located suburban properties in the Chicago regioncontinue to draw in investors from around the country who can senseopportunities. Stanton Road Capital, LLC, a LosAngeles-based real estate investment firm, recently acquired ArborLake Centre, a 228,000 square foot class A office building locatedat 1751 Lake Cook Rd., at the confluence of I-94 and I-294 inDeerfield. The property, developed in 1986, was 75% leased at thetime of acquisition.
“It's a true class A asset but right now lacks amenities,”Tim Ronan, Jr., founder and managing partner ofSRC, tells GlobeSt.com. “It's been owned by the same owner sincethe mid-80s,” and it needs a capital infusion.
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