realestate

Suburban Office Building Seeks Buyer with Significant Price Hike

Planmeca seeks to sell award-winning office building at Prairie Stone Business Park for $11M.

A
Finnish dental equipment company, Planmeca, is selling its award-winning office building at the Prairie Stone Business Park in Hoffman Estates. The 90,000-square-foot property on Forbs Avenue has been listed for $11 million, or $122 per square foot, according to the Daily Herald. This represents a significant return on investment, as Planmeca paid around $70 per square foot when it acquired the site in 2019.

    The building, developed by Serta in 2009, won the 2010 Institute Honor Award from the American Institute of Architects for its design. Village officials want to preserve this unique feature, and are hesitant to allow changes that might compromise the building's original character. Prospective buyers have expressed interest in using the space as a warehouse, but local authorities are cautious about altering the property.

    The building offers several advantages, including high visibility, a prime suburban location, and proximity to O'Hare International Airport. Its impressive design and well-developed infrastructure make it an attractive investment opportunity for companies looking to establish a presence in the area. Recent developments in Hoffman Estates, such as the acquisition of the Reserve at Hoffman Estates apartment complex and Microsoft's purchase of a spec industrial site, demonstrate the region's growing appeal to investors.

Suburban office building in [location] seeks buyer after significant price increase announced.