August 3, 2011

DuPage County Commercial Real Estate News

DuPage County’s stimulus packages initiative is attracting some major companies to the area.

By: Teresa Ryan, Broker/Owner, Ryan Hill Realty

A recent opinions article in the Naperville Sun written by Director of Transportation, Engineering and Development for the City of Naperville, Marcie Schatz stated:  “Naperville is home to nearly 12 million square feet of office space. Although office vacancy numbers along the west suburban I-88 corridor are currently sitting at over 22 percent, the office vacancy rate in Naperville is well below that at 12 percent. Building owners are successfully recruiting tenants, such as Sikich which will occupy space in the Tellabs building. Property owners, such as those at the 1200 Warrenville Road building at the Freedom Drive and I-88 interchange, are reinvesting in their buildings to recruit tenants and jobs to the community.” (Source link: http://napervillesun.suntimes.com/)

Sikich’s corporate headquarters will cover 80,000 sq.ft.  of space and brings 125 news jobs to the area.  A yet unannounced tenant has booked 40,000 sq.ft. also in the Tellabs building.

In addition, Calamos Real Estate’s CityGate Centre in Naperville signed a new 51,000 sq.ft. lease to RSA Medical bringing the building to almost full tenancy.

We’ve attached an office vacancy report that shows absorption over the past 5-years.  This report is based on existing office occupancy and does not include office buildings that are proposed and may or may not be built anytime soon.  What’s promising is the fact that office vacancy has actually DROPPED in the past three years!

Check back often for more property progress information around Chicagoland!

 

Teresa Ryan

Ryan Hill Realty, a privately-owned real estate company, has served the Chicagoland area since 2001. Originally focused on Residential / "Premier Properties", we have added a Commercial and an REO/Foreclosure division, making it a full service brokerage for both Business to Business and Business to Consumer clients. Ryan Hill Realty's marketing is "Best-In-Class", creatively marketing each home for maximum exposure, and professionally serving every buyer during their home buying experience. Ryan Hill Realty attributes it growth and success to their commitment to delivering "Outstanding Service and Results", adjusting to the market and their client's needs, and their expertise in specific marketing strategies for serving "High End" Luxury Property clients, to First-Time Homebuyers, as well as Multi-Family and Investment clients. Ryan Hill Realty is also a "Woman Owned" Company and is committed to giving back to community with over 45 Realtors serving the 6-county Chicago Metro area. The company's mission is to deliver the ‘American Dream' by serving clients and community with passion and excellence.

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