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Chicago & Midwest  + Greater Chicagoland  + Office  |  December 13, 2019
Paul Bubny
By: Paul Bubny

BentallGreenOak Fund Trades Downers Grove Offices

JLL closed the $128.5 million sale of 3500 Lacey Rd., a 583,982-square-foot, Class A office tower in Downers Grove, IL. The firm marketed the property on behalf of BentallGreenOak’s US Core Fund, and procured the buyer, KORE Investments.

The JLL Capital Markets team representing the seller was led by senior director Patrick Shields, senior managing directors Jeff Bramson and Jaime Fink, director Sam DiFrancesca and international director Bruce Miller.

3500 Lacey Rd. is located at the convergence of Interstates 355 and 88 in the East-West Corridor submarket, which reportedly contains the highest concentration of suburban office space in Chicago. It has undergone more than $7.4 million of capital improvements since 2014, and currently is 96.9% leased, with a diverse tenant roster comprising world renowned corporations and publicly-traded companies.

Onsite amenities include a ballroom, on-site deli, conference facility, six-level parking deck and car wash and detail service.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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