Mid America Plaza is nearing completion of a $10 million capital improvement project that includes reimagined common areas, upgraded amenity spaces and significant base building improvements throughout the property. Avison Young has been awarded the exclusive leasing assignment for 1 and 2 Mid America Plaza, the two 10-story buildings that comprise the marquee office portfolio located directly across from Oak Brook Center mall in Oakbrook Terrace, Illinois.
Avison Young principal Fred Ishler and associate Olivia Parker, who are both based in the company’s Chicago office and members of the firm’s suburban agency leasing group, will direct property marketing and leasing efforts on behalf of the owner, Equus Investment Partnership, X, L.P., a $361-million discretionary equity fund, managed by Equus Capital Partners Ltd.
“We’re excited to show the market what we have here,” said Ishler. “This is, without question, suburban Chicago’s most iconic and best location. Combined with the fact that Equus has spearheaded this significant repositioning effort, Mid America Plaza has to be one of the most desirable office properties in the East-West Corridor.”
Mid America Plaza is currently wrapping up a significant capital improvement and repositioning effort that includes elevated, modern upgrades throughout the 414,442-square-foot property. At the center of the project is a redesigned lobby, including new common area furniture, updated atrium spaces with three Wi-Fi lounges and a brand new fitness center.
Another significant focus of the redevelopment was on base building improvements which included modernized elevator systems, HVAC upgrades and an energy efficiency package featuring new window glazing, LED lighting and electric car charging stations in the covered parking garage. Additional upgrades include an outdoor seating area surrounded by a newly landscaped patio with adaptive walkways and outdoor Wi-Fi access, as well as improved visitor parking and wayfinding, an updated deli and a sundry shop.
In conjunction with the completion of the capital improvements, the new Avison Young leasing team, existing JLL management team and ownership team will co-host a broker open house later in the year. The event will feature tours of the updated common areas and a chance to view an interactive marketing center located within a full-floor, 23,704-square-foot vacancy on the fourth floor of the property’s north tower.
