by The Chicago Times Business Staff
October 8, 2021
OAK BROOK, IL — Clear Height Properties and joint venture partner Buligo Capital Partners have sold an Oak Brook office property, demonstrating the opportunity that some investors see in recently renovated suburban office assets with some vacancy.
Helios Properties, based in Chicago, purchased 814 Commerce, a three-story, 173,017-square-foot office building from the Clear Height-led joint venture. The building was purchased by the partnership in late 2019.
Since acquiring the building in late 2019, Clear Height has invested significantly in modernizing and upgrading 814 Commerce. The most notable and extensive improvements made with the $1.5 million invested were to the building’s exterior and common areas, parking deck, and HVAC systems.
56.1 percent of the building is leased consisting of three tenants: Innovista Health Solutions, IRC Retail Centers, and CPS. The available space ranges in size from 1,438 square feet to 45,722 square feet in a single continuous block.