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Chicago & Midwest  + Greater Chicagoland  + Illinois  + Office  | 
Schaumburg Office Building Slated for Conversion Sells for $3.5M_Lee & Associates

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.


Inside The Story

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.