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Newmark Retained to Sell 244K-SF O’Hare Office Property
Newmark has been hired to exclusively lead the sale of 1350 Touhy Plaza, a 244,049-square-foot office asset in Des Plaines, Illinois.
Newmark is representing the seller, a partnership between Deer Park Investors and Marc Realty. The Chicago-based team is led by Senior Managing Director Derek Fohl, Executive Managing Director Jim Postweiler, Senior Managing Director Peter Harwood and Associate Director Jack Trager, with analytical support from Associate Jake Paschen. The property is being offered with guidance in the low $20 million range.
The property presents an attractive value-add opportunity to acquire an office asset in the O’Hare submarket with significant mark-to-market potential. “1350 Touhy presents a unique point-in-time opportunity for both investors and owner-users,” said Fohl.
Located less than a mile north of O’Hare International Airport, the property’s amenities include heated underground parking, a 2,200-square-foot fitness center with locker rooms and showers, and a 3,400-square-foot Halsted Street Deli with a 2,750-square-foot conference room.
