Office

Mid America Plaza – Oakbrook, IL

1 Mid America Plz # 1, Oakbrook Terrace, IL, 60181-4450, US

Mid America Plaza – Oakbrook, IL_Property for Sale

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Mid America Plaza – Oakbrook, IL 2_Property for Sale

Asset description

Jones Lang LaSalle (Illinois), L.P. (“JLL”) has been exclusively retained to arrange the sale of Mid America Plaza (the “Property” or “Mid America”), an exceptionally well located trophy suburban office complex benefiting from a City of Oakbrook Terrace, DuPage County address. With nearly $15 million of capital invested into the Property via a transformative multi-phase renovation completed in 2021, Mid America is uniquely positioned to take advantage of the ongoing flight to quality as a true best-of-the-best asset offering tenants reimagined contemporary lobbies, amenities, dining options, as-well-as efficient back-of-house systems including modernized elevators and HVAC upgrades. In addition to the Property’s highly desirable onsite amenities and dining options that include Chicago institution and long-term tenant Ditka’s, Mid America is conveniently situated adjacent to Oakbrook Center. A significant locational advantage and differentiator, properties on the mall have historically outperformed the market, a trend unlikely to abate as Oakbrook Center continues to perform as a fortress asset having recently undergone major adaptive reuse renovations that commenced in 2016 and continue through 2022. As testament to the impact of this recent institutional investment into the Property as well as neighboring Oakbrook Center, nearly 95,000 RSF of leasing has been executed at Mid America within the past 18 months. Anchored by the global

headquarters of both BCS Financial as well as Graycor, as testimony to the high image real estate, convenient access, depth of local labor pools, and surrounding executive-level housing stock, a total of nine tenants base their headquarters at the Property. With nearly six years of major tenant weighted average remaining lease term (“WALT”) and minimal rollover within the next three years, the Property provides investors with strong in-place income paired with the potential for significant value-add upside.

Attributes

Building area Net
414,442 sf
Occupancy
81.00%
Year built
1985
Land area Net
5.32 acres (231,944 sf)

Investment highlights

  • Highly Amenitized Building Drives Leasing Success
  • Ultimate 24/7 First Ring Suburban Location
  • Limited Near-Term Rollover & Stability in Anchor Tenancy
  • Established Corporate Location
Mid America Plaza – Oakbrook, IL 4_Property for Sale
Mid America Plaza – Oakbrook, IL 4_Property for Sale

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Last updated
Aug 11, 2022