News
Retrofit at O'Hare Park
October 21, 2010
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| 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. | |
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| 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. |
