Greenstone Partners successfully completed the sale of the Conway Park office complex, a two-building Class A suburban office investment located at 100 and 150 North Field Drive in Lake Forest, Illinois, a North Shore suburb of Chicago. The 225,354-square-foot property was acquired by a California-based investment group for just over $9.3 million, equating to approximately $41 per square foot.
The Conway Park complex is located within a well-established suburban office corridor and offers institutional-quality construction, strong regional accessibility, and proximity to major North Shore communities. The property is currently approximately 45 percent leased and includes nationally recognized financial services tenants, providing a foundation for future lease-up and value enhancement.
The investor was attracted to the opportunity to acquire a well-located suburban office asset at a significant discount to prior ownership’s basis, with the potential to improve occupancy and long-term performance. The acquisition reflects continued investor interest in strategically located suburban office properties with favorable long-term fundamentals.
Danny Spitz, CEO of Greenstone Partners, was involved in the transaction, facilitating the transfer of ownership to the California-based investment group.