Lagestee-Mulder buys Burr Ridge office center

An investment entity sponsored by Lagestee-Mulder recently completed the purchase of the 54,000-square-foot Burr Ridge Office Center at 16W361 South Frontage Road in Burr Ridge.

Terms of the acquisition were not announced.

The property includes 14 office suites and is 94 percent leased. Financial terms were not disclosed. The purchase was the latest designed to build the firm's portfolio of strong suburban assets.

"The Chicago suburban office market remains an attractive option for investors who want the stability of well leased buildings in a suburban environment," said Don Price, senior vice president of asset management and development services, "Many companies remain committed to the suburbs, as it provides the quality of life they prefer, along with access to important clients and a strong employee base."

Alissa Adler and John Homsher of Podolsky/Circle CORFAC International represented the seller, a private investment group.

Lagestee-Mulder has been involved in the acquisition, leasing, construction and development of commercial real estate in the Chicago area for more than 25 years.