Clear Height Properties acquires $30M portfolio

Clear Height Properties has acquired a four-property, $30 million, 522,000 square-foot Chicago suburban portfolio includes a suburban, multistory office property, the 201,800-square-foot building at 2625 Butterfield Road in Oak Brook, formerly known as Butterfield Office Plaza, and more than 320,000 square feet of flex properties in Elmhurst, Bensenville and Willowbrook.

"This is an exciting venture, and another demonstration of the growth and evolution of Clear Height," said Dominic Sergi, CEO, Clear Height Properties.

2625 Butterfield is a 201,800 square-foot, three-story office building situated on 10 acres with premier visibility from the I-88 Tollway.

Also included in the $30 million acquisition are three flex/industrial buildings. They include Elmhurst Metro Court, 747 N. Church Road in Elmhurst; Tower Lane Business Park, at 1050-1100 Tower Lane in Bensenville; Willowbrook Court, at 625-701 Executive Drive in Willowbrook.

Given the age of the properties, which were developed in the late 1970s and early 1980s, Clear Height will evaluate the capital expense requirements at each building and undertake a proactive building improvement plan.