Purchase marks company’s third commercial real estate acquisition in Rosemont in as many years.

CHICAGO — Bradford Allen today announced it has purchased 6400 Shafer Court, a seven-story, 179,000-square-foot office building in Rosemont, Ill., minutes from O’Hare International Airport. The firm plans to invest more than $7 million in upgrades and will manage and lease the property.

The purchase marks the company’s third acquisition in the Rosemont submarket in as many years. Bradford Allen previously bought Pointe O’Hare, a Class A office building at 9550 W. Higgins Road, in 2022, raising occupancy to over 85% from less than 60% in just two and a half years. In 2023, it acquired the Hyatt Rosemont at 6350 N. River Road, converting it to the recently opened Hyatt Centric Chicago/O’Hare after a $30 million renovation.

“Our purchase of 6400 Shafer reaffirms our commitment to this part of Rosemont, which has tremendous potential as a multi-experiential district,” said Laurence Elbaum, principal and co-founder of Bradford Allen. “It’s centrally located, has superior transit access and boasts retail, restaurant, entertainment and hospitality offerings that make it a draw for corporate users.

“6400 Shafer is a rare asset in its ability to offer mid-priced, highly amenitized office space in the O’Hare submarket,” he added.

Located between Higgins Road and Devon Avenue, with immediate access to the Tri-State Tollway and Kennedy Expressway, 6400 Shafer offers Class A amenities like a heated indoor parking garage, state-of-the-art fitness center, free shuttle service to O’Hare and the CTA Blue Line, and on-site café. It is steps from Cima, the new restaurant housed in the neighboring Hyatt Centric hotel, as well as other dining options, including those at the adjacent Rivers Casino Des Plaines.

In addition to addressing deferred maintenance, Bradford Allen will make upgrades including new spec office suites ranging in size from 2,000 to 5,000 square feet, updated locker rooms and a modernized conference facility. It acquired the property from the village of Rosemont, which purchased the asset from its prior lender following foreclosure.

Joel Berger and Norm Murdoch of Bradford Allen will handle leasing for the property, which was about 60% occupied at the time of purchase. Current tenants include Acrisure, Planet Fitness and TrueNorth Insurance.

In addition to Rosemont, Bradford Allen also owns properties in suburban Chicago in Downers Grove, Deerfield and Northbrook; Greenwich, Conn.; Denver; Jacksonville, Fla.; Fort Lauderdale, Fla.; and other markets. The firm has made a number of other value-add investments in large office properties as well.

About Bradford Allen:

Bradford Allen (BA) is a commercial real estate firm based in the heart of downtown Chicago. Founded in 2003 by Jeff Bernstein and Larry Elbaum as an office brokerage, the firm has grown into a vertically integrated commercial real estate company, offering a full array of services and expertise across multiple U.S. markets to entrepreneurial, corporate and not-for-profit clients, including strategy, marketing and transaction execution for occupiers, investors and owners. For more information, visit bradfordallen.com.

Editors:

For more information or to schedule an interview, contact Matt Baker, mbaker@taylorjohnson.com, (312) 267-4512 or Patty Cronin, pcronin@taylorjohnson.com, (312) 267-4513.