Corporate Lakes III

Corporate Lakes III

  • 2200 Cabot Drive | Lisle, Illinois
  • Property Type: Office
  • Size: ±125,000
  • Assignment Type: Facility Management, Leasing, Property & Asset Management

Challenges

Corporate Lakes III is an approximately 125,000 SF office building built in 1990. The property is located in Lisle, a suburb in Chicago’s East-West Corridor about 25 miles from the Loop. Major tenant Unilever vacated the building at lease expiration, which caused the owner to default on their mortgage. Friedman Real Estate was hired in 2019 to help turn around the distressed asset.

Results

While there is an abundance of vacant office space in the Chicago suburbs, Friedman recognized Corporate Lakes III’s strategic positioning with easy access from I-88, good visibility, and desirable tenant spaces including top-of-the-line office furniture. Friedman was able to improve operations, secure relations with the tenants and sell the asset to a local Chicago investment group.