A
major office complex near O'Hare International Airport is up for sale after facing significant financial difficulties. The three-tower campus, located at 9377 and 9399 West Higgins Road and 6133 North River Road in Rosemont, Illinois, spans 894,000 square feet and is currently 71% leased with an average lease term of 5.5 years. Tenants include Wells Fargo Rail, U.S. Foods, Culligan International, Siemens, and Littelfuse, which signed a 54,000-square-foot lease earlier this year.

    The property's financial struggles began when Adventus Realty Trust defaulted on the commercial mortgage-backed securities loan used to fund its $173 million purchase of the Riverway portfolio from Blackstone in late 2016. The CMBS loan, managed by LNR Partners and Trigild, has a remaining balance of $111.3 million with a 4.96% interest rate maturing in December 2026.

    JLL's Patrick Shields and Sam DiFrancesca are managing the listing, which includes an assumable financing option. The sale comes as other office properties in the O'Hare submarket have been listed for steep discounts due to reduced demand from corporate tenants. This shift in the market has made distressed assets like Riverway more common, with other properties being sold with assumable financing options.