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Retrofit at O'Hare Park

Retrofit at O'Hare Park
KTR Capital's Ryan Stoller
When the  800k SF  in the O'Hare Business Park at Irving Park and Manheim Road in Schiller Park started to look retro, KTR Capital Partners' Ryan Stoller kicked off a retrofit. The 1970 structures are still functional, Ryan says, but the exterior isn't as attractive it once was. The building owner is investing a couple million to renovate the inside and outside to make them look new again.



Remove one traffic light and it changes the whole thing. Ryan says that in a lot of cases, it's economical to revamp the older buildings, especially in  infill areas like O'Hare where tenants might be looking to upgrade, but not necessarily rent or buy a brand new building. KTR has had success with a similar project at 4404 W. Ann Lurie in Chicago and is also working on a 309k SF building at 2501 Lunt  in Elk Grove Village. It's hosting an open house on Nov. 3 to show off the spaces in O'Hare Business Park.