90 North Real Estate Partners (“90 North”) has started construction on a new gateway entrance off Deer Park Blvd and a reconfiguring of the parking lot and building access at The Reserve at Deer Park in Chicago’s northwest suburbs.
The work is part of a comprehensive repositioning program that is transitioning the building from a single to multi-tenant focus. The new lobby has been completed; the remainder of the project is slated for completion in early November.
The 351,425-square-foot Class A office building at 21440 W. Lake Cook Rd in Deer Park, IL is approximately 60 percent leased on a long term basis to Continental Automotive Systems, Inc. The top three floors, totalling 145,000 square feet, are being marketed through NAI Hiffman, the exclusive leasing and property management agents for the building. According to NAI Hiffman, the space is ideal for medium to large corporate tenants.
The improvements will create a separate parking lot and stand-alone building entrance for the new tenants.
Highlights of the renovation and repositioning program include:
- Construction of a central access point to the new lobby and existing elevator bank. These changes will add 224 parking spaces at the building or 5/1,000 parking for the new tenant(s), plus up to 300 additional spaces for a tenant parking ratio up to 7/1,000.
- The two-story gateway marquis entrance was designed by GMA Associates and is being constructed by ARCO Murray.
- Construction of a new management office and lobby to tie in with the enhanced/expanded new building entry. This portion of the project has been completed and brings a fresh, contemporary look to the lobby area. “It is rare to find a final build-out where the execution is better than the concept,” Cooper said.
- Execution of a comprehensive landscaping plan to improve aesthetics and reduce water consumption. Plants that are indigenous to the region are being added to achieve sustainability goals for the project, according to Marty Ahern, 90 North’s Associate Vice President for Investment.
The building offers large and efficient floor plates of 48,000 square feet, along with a technology-rich 300-seat auditorium; a 500-person cafeteria; and a covered parking structure. An additional 525,000 square feet of office space, spread over three buildings, is approved to be built on the 58-acre site. The building is easily accessed off Routes 53 and 12/Rand Road.
