{"id":1004203333,"date":"2018-01-11T05:05:17","date_gmt":"2018-01-11T13:05:17","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004203333"},"modified":"2022-12-07T08:02:57","modified_gmt":"2022-12-07T16:02:57","slug":"equity-office-offloads-suburban-chicago-asset-for-47m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/equity-office-offloads-suburban-chicago-asset-for-47m\/","title":{"rendered":"Equity Office Offloads Suburban Chicago Asset for $47M"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<p>Equity Office has sold its One Parkway North office building in Deerfield, Ill. for $47 million. The buyer, Horn Eichenwald Investments Corp., acquired the property using $24.5 million in mortgage financing provided by CitiBank,\u00a0according to Lake County public records. An HFF team led by Bryan Rosenberg and Patrick Shields represented the seller in the transaction. Equity Office acquired the property as part of a $3.3 billion portfolio transaction in 2015, according to Yardi Matrix.<\/p>\n<p>The LEED Gold-certified building was constructed in 1989 and is 92.7 percent leased to a number of tenants, including Essendant, which occupies the largest part of the structure. The 11.2-acre parcel includes parking for 934 vehicles, 36 of which are located in a heated parking garage. Tenant amenities include a cafeteria and a recently\u00a0built fitness center, which was added to the ground floor during the previous owner\u2019s 2016 renovation of the property.<\/p>\n<p>Located at 1 Parkway N. in the Parkway North Center, the building is within half a mile of Interstate 94, enabling direct access to the Loop, 30 miles southeast. Major tenants in the office park include Mondelez International, Aerotek and Markel Corp. The 248-key Chicago Marriott Suites Deerfield\u00a0is situated\u00a0next door to the building.<\/p>\n<p>Last year, Equity Office and Blackstone revealed significant renovation plans for their 110-story <a href=\"https:\/\/www.commercialsearch.com\/news\/first-look-at-the-500m-willis-tower-redevelopment\/\">Willis Tower<\/a>, formerly known as the Sears Tower, in downtown Chicago.<\/p>\n<p><em>Images courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The recently renovated five-story office building features 275,000 square feet of space and serves as the corporate headquarters for Essendant.<\/p>\n","protected":false},"author":861,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21825,21783,13,21742,21747],"tags":[33781,38476,32792,32779],"class_list":["post-1004203333","post","type-post","status-publish","format-standard","hentry","category-chicago","category-deals","category-finance","category-investment","category-midwest","category-latest","category-office","tag-equity-office","tag-essendant","tag-hff","tag-leed"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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