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Schaumburg Office Building Slated for Conversion Sells for $3.5M
Lee & Associates negotiated the $3.52 million sale of a 106,380-square-foot, five-story office building at 930 National Parkway in Northwest Suburban Schaumburg, Illinois. The Class A office property is located adjacent to Woodfield Mall and was originally built in 1989 for Cellular One and subsequently occupied by Cingular and AT&T.
Tony Russo, senior vice president, and Ryan Freed, vice president at Lee & Associates, represented the seller, Somoha, LLC. The buyer, National India Hub Foundation (a national Indian-American organization focused on local community outreach and volunteering), was self-represented.
National India Hub Foundation is planning to convert the property into a multi-purpose community center. The facility will include a charity clinic, conference rooms, an indoor sports center, an auditorium, a donation center, and an event space.
“In today’s unprecedented commercial office market, out-of-the-box thinking is required to re-purpose some of the existing office buildings. National India HUB Foundation is a perfect example of this strategy,” said Russo.
