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posted: 7/18/2017 5:55 PM

Rosemont to sell office building for $5 million

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Rosemont plans to close on the $5 million sale of an office building to a real estate development firm in October, officials said.

Farpoint Development plans to purchase and renovate the seven-story, 137,000-square-foot building at 6300 N. River Road and lease it to one or more office users, according to Mayor Brad Stephens.

The closing is scheduled for Oct. 4.

The building was once the headquarters of the American Academy of Orthopedic Surgeons until the organization moved in December 2014 into a new five-story, 150,000-square-foot office building down the block at 9400 W. Higgins Road. The village bought the old office building from the academy for $4.7 million, agreeing to hold it until finding a buyer.

Meanwhile, the village is wrapping up a $3.7 million parking garage expansion project behind the office building. The three-level garage will have 180 more spaces to the south, in place of a former surface parking lot. The garage is used by patrons of village hall at 9501 W. Devon Ave. and the neighboring Hyatt Rosemont, and will be used by tenants of the 6300 N. River building.

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