Report: Former Zurich headquarters in Schaumburg sold

  • Skokie-based American Landmark Properties is under contract to pay $87.6 million for the former Zurich North American headquarters in Schaumburg, according to a Crain's report.

      Skokie-based American Landmark Properties is under contract to pay $87.6 million for the former Zurich North American headquarters in Schaumburg, according to a Crain's report. JOE LEWNARD | Staff Photographer, file photo

 
Daily Herald Report
Updated 1/23/2018 4:08 PM

A Skokie-based real estate investor is under contract to pay $87.6 million for the former Zurich North American headquarters in Schaumburg, according to a Crain's report.

American Landmark Properties, which has not returned phone calls, was also responsible for the sale of Willis Tower in 2015 in Chicago.

                                                                                                                                                                                                                       
 

The suburban property, now known as Schaumburg Towers, is listed on American Landmark's website as an open property seeking outside capital. The website says it has reached 50 percent of its funding goal of $29.9 million. "Schaumburg Towers is an 882,071-square-foot class A trophy office property located directly adjacent to the 2.2 million-square-foot Woodfield Mall in Schaumburg," the website says.

Schaumburg officials said they know the property was being marketed, but are not aware of the price as the sale hasn't closed and they have not received the transfer stamp yet.

"I have not spoken with the prospective buyer," said Matt Frank, assistant director of community development in Schaumburg. "We've been working with Colliers on the marketing of the Schaumburg Towers space to prospective tenants," Frank said.

Oak Brook-based Retail Properties of America Inc., the current owner of the property, chose Colliers International to market the iconic towers before Zurich moved out in 2016.

"We look forward to working with the new ownership and building upon the recent renovations and new businesses moving in such as Paylocity and Charles Industries," Frank said.

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