Burr Ridge Corporate Center
Burr Ridge, IL | 92,000 SF | Investment, Development
An approximately seven-acre site, zoned industrial with challenging soil issues, was located in the dynamic Burr Ridge market with highway frontage. The project was further burdened by a challenging municipality with unusual setback requirements.
The land, purchased in 1999, was developed with two different type buildings to address the soil and setback issues. The smaller building, 25,000 SF, was leased to Aramark on a 10-year lease, which subsequently exercised its right to purchase. The larger building, 68,000 SF, was leased to two tenants and subsequently sold to a 1031 exchange buyer. The significant gain was deferred for the investors by acquiring an industrial building in suburban Chicago.