OAK BROOK -- A Clear Height Properties/Buligo Capital Partners joint venture has acquired the property at 814 Commerce Drive from Elliott Management for an undisclosed price.
The three-story, 171,933-square-foot office building sits on 7.53 acres and includes a two-level parking deck with additional surface parking. Built in 1990, the office building features a dramatic atrium lobby. The building is currently occupied by IRC, a commercial real estate firms that leases approximately 43,000 square feet of space, and Innovista Health, a health care firm that leases approximately 41,000 square feet of space.
DeVry, which leases the entire second floor totaling approximately 66,500 square feet, will be relocating.
Improvements planned for the building will include renovation and repositioning of the exterior facade, building entryway, lobby and common area spaces, as well as exterior grounds and landscaping.
The building was marketed for sale by Art Burrows, senior vice president; James Adler, executive vice president; and Dan O'Neill, executive vice president, all with NAI Hiffman. Clear Height has named NAI Hiffman to be the exclusive marketing and property management representative for the property.
"It's a well-located, quality-constructed building within a market that draws strong tenant interest," said Gary Rose, managing director, asset management & acquisitions, Clear Height Properties.