Lake Bluff, IL
Built in 1992 this office property was initially designed as a flex building that could be used for light industrial, but has historically been used for office, medical office and research laboratory purposes.
Partnering with Avgeris & Associates, we purchased this asset in 2015 with our goal to reposition the asset using our value-add approach. When acquired the asset was distressed and had an initial occupancy of 36.8%.
After executing a $1.2 million dollar capital improvement project to the asset’s main lobby, washrooms, electrical systems and parking lots we have successfully leased-up the entire asset and dramatically increased the value of the asset.
- Built: 1992
- Acquired: 2015
- Renovated: 2015