Franklin Partners buy Oak Brook building

Franklin Partners, a real estate investor in Naperville, and its partner Bixby Bridge Fund in Northbrook paid nearly $18 million in cash for an Oak Brook office building.

Franklin Partners, known for revitalizing buildings, also plans to move its local office to 1900 Spring Road next year and manage the property.

"A theme we try to highlight in our office redevelopments is balance, and how adding additional amenities to a space can provide that work/life balance for our tenant communities," said Donald Shoemaker, managing partner at Franklin Partners.

The office building is five stories and is near Oakbrook Center. Tenants include legal, development, financial services, health care and nonprofit organizations.

Even with the recent news of McDonald's leaving Oak Brook for downtown Chicago, the firms believe the office building is in a good spot and plan to update the common areas and might build another building nearby.