Opus Development Corporation today announced the sale of the Highland Landmark V office building in Downers Grove, Ill. to an unidentified private investor for an undisclosed sum, with the sale closing March 14, 2011.
Dave Everson, vice president and general manager, Opus Development Corporation, represented the seller and Cornerstone Real Estate Advisers represented the purchaser in this direct transaction.
Highland Landmark V is a 251,235 square foot, eight-story, multi-tenant office building in the Highland Landmark Office Park, which is located at the southeast corner of I-88 (East-West Tollway) and Highland Avenue in Downers Grove. Highland Landmark V, completed in August 2008, is the fifth and final building in the 42-acre Highland Landmark Office Park, which in total encompasses 1.3 million square feet of Class A office space. The building is 100 percent leased and serves as the corporate headquarters for both DeVry Inc. and Dover Corporation.
The building was named the 2009 Suburban Office Development of the Year by the Chicago chapter of NAIOP, the Commercial Real Estate Development Association. In addition, the DeVry Inc. lease was recognized by NAIOP’s Chicago chapter as the Suburban Office Lease Transaction of the Year in 2009.
A representative from Opus declined to disclose information regarding the sale.
