Office N Illinois

New Jersey investor acquires Oak Brook office building for $43 million

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Skillman, New Jersey-based Fairbridge Properties purchased Oak Brook Gateway for nearly $42.85 million. The eight-story, Class-A office property located at 1111 West 22nd Street, Oak Brook, Illinois was 93 percent occupied at acquisition with tenants including Aerotek, Lewis University, Oxford Bank and the U.S. Census Bureau.

“This acquisition marks our proud entrance into the third largest real estate market in the U.S.,” said Dr. Dmitry Gordeev, Fairbridge Properties’ founder and managing partner. “We are excited to own a beautiful building in a densely populated, top-performing submarket that has access to a highly skilled labor force.”

The 233,166-square-foot office building was designed by Holabird and Root and built by New York Life Insurance Company in 1984. The modern, steel-and-glass structure boasts 27,700-square-foot floor plates, a two-story atrium lobby, conference center, fitness center, full-service cafe, outdoor patio and free, covered parking in the four-level parking structure connected to the building via an enclosed corridor.