CHICAGO—The suburban office market as a whole seems like it hasbeen treading water for a while, but the demand from tenants for well-located class A properties keeps growing, andthat has led many suburban landlords to begin updating theirproperties.
GlenStar and its institutional capital partner,for example, recently bought from Ameritus thethree-story, 103,471-square-foot Bannockburn Lakes V located at2121 Waukegan Rd. in Lake County. Like the complex's other fourbuildings, which it acquired in late 2015, GlenStar will repositionBannockburn Lakes V with the goal of bringing it back to class Astatus. The company, which has revived other suburbandevelopments such as Continental Towers, plans to refresh thecommon areas, restrooms, lobbies, exterior drive-up, landscapingand parking lots.
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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.
