Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SUGAR GROVE, IL-A 2.67-acre parcel on Capital Drive at Galena Boulevard has been sold for a four-building office complex to be developed on the site. The buyer of the Capitol Professional Center development site is Thornbrook Construction, based in Yorkville, IL, says Kevin Geary, with Morken and Associates.

The land was originally sold from Winding Road LLC, based in LaFox, IL, to King Development, based here, says Matt Smetana, with Edgemark Commercial Real Estate Services LLC. Smetana represented Winding Road LLC and King Development was represented by Geary. The asking price for the sale to King Development was $1.3 million. The property was subsequently sold with Thornbrook being the current owner, though the new price is not being released, Geary says.

Four office buildings will be constructed on the site, which is located adjacent to Jewel Osco. The office center condominiums are geared to doctors, lawyers and accountants. Each of the buildings will be 6,000 sf, Geary says.

Morken and Associates is marketing the office condominium units. The buildings are divisible to 1,500 sf. The cost for the condominiums is $154 per sf if the entire building is bought or $160 per sf for smaller spaces, Geary says. Construction on the project is expected to begin this month with the first two buildings delivered by the end of October. The buildings will be delivered without lighting or heating systems, Geary says. Currently, one and a half of the buildings are under contract for a medical use, Geary says.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

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

  • Free unlimited access to GlobeSt.com'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 ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.