ROLLING MEADOWS, IL-While court battles and a Jan. 9 foreclosure auction may likely determine the future direction of the Chicago-based REIT, Prime Group Realty Trust has been busy leasing 140,538 sf at Continental Towers in this northwest suburb. The biggest new tenant is Fifth Third Bank, which is taking 94,432 sf here as well as at 1699 E. Woodfield Rd. in neighboring Schaumburg.

Although lease terms were not revealed, Prime Group is collecting an average of $13.63 per sf at Continental Towers, much lower than the average rate of $17.73 per sf for leases expiring this year. That would put the annual value of the deals in the neighborhood of $1.9 million to $2.5 million.

Fifth Third Bank plans to relocate 350 employees to Continental Towers, which will become the financial institution’s Chicago area headquarters.

New leases also include 18,508 sf taken by Personnel Research Associates and 3,916 sf by Exxon Mobil Chemical. Lease expansions include 5,275 sf by Auto, Home and Health Insurance Agency, Inc. In addition, Aon Service Corp. has expanded its lease by about 6,000 sf.

The 975,000-sf, three-building property has undergone a $10-million renovation.

“Continental Towers continues to attract high quality corporate users and the combination of location, amenities and service, make it one of the most sought after complexes in the Northwest Suburbs,” says Prime Group executive vice president Faye Oomen.

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.

Dig Deeper



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.