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1420 Renaissance DrPark Ridge, IL 60068
1420 Renaissance Drive
Asset ClassOffice
1420 Renaissance Drive
overview of deal

Overview

Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in 1420 Renaissance Drive (the “Property”), an 49.14% leased, suburban office investment prominently located in Park Ridge, directly off I-294.

 

The 49.14% leased office building features 55,595 rentable square feet across four floors and is situated on 3.03 Acres of land. The building is home to 22 companies including a number of medical & healthcare users occupying a combined 29% of the Property.

 

The property is strategically located at the intersection of the towns of Park Ridge, Desplaines and Niles and within a 2-minute drive of the I-294 on-ramp with direct exposure to the expressway. Further, the property is 1-mile away from the Dee Road Metra Station and 1.5-miles away from the Desplaines city center and Metra station (Union Pasific Northwest Line).

 

Park Ridge, an affluent Northwest suburb of Chicago, has seen continuous growth over recent years. The town benefits from its location within 2 miles of O’Hare International Airport and 12 miles of downtown Chicago. Lutheran General Hospital is the town’s largest employer, it is located one mile east of 1420 Renaissance Drive.

 

Within 2 miles, demographics include an average household income of $97,109, an average home value of $268,452, and a total population of 72,000+.

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Investment Highlights

⦿ PREDOMINANTLY MEDICAL TENANCY

⦿ LARGE QUANTITY OF TENANTS

⦿ FIRST CLASS BUILDING + SERVICE

⦿ INTERSECTION OF I-294 AND DEMPSTER STREET

⦿ SUPERIOR DEMOGRAPHICS

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1420 Renaissance DrPark Ridge, IL 60068
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Listing provided by Revere CRE