Inland Highland Parkway Downers Grove

Inland Signs 140K SF Headquarters Lease in Downers Grove

JLL and The Inland Real Estate Companies, LLC (“Inland”) announced Inland signed an approximately 140,000-square-foot, 16.5-year headquarters lease at 3050 Highland Parkway in Downers Grove, Illinois, as part of the company’s long-term strategic business plan to foster collaboration, growth, attract talent and better serve employee’s needs.

The lease encompasses more than half of the 260,852-rentable-square-foot, multi-tenant office building, with Inland occupying floors 7, 6, 5 and a portion of the 4th floor. The company is expected to occupy the space later this year.

JLL represented the landlord in the transaction, led by Jeff Shay, executive vice president, and Allyson Birchmeier, vice president. Larry Sajdak, executive vice president, and Sean Steuart, vice president of leasing, represented Inland.

“Our new headquarters reflects a broader investment in our people and how we work together,” said Tony Chereso, CEO and President for The Inland Real Estate Companies, LLC. “Bringing our teams together in a highly amenitized, collaborative environment allows us to strengthen our culture, operate more efficiently and ensure our workplace supports the long-term growth initiatives of our business.”

With more than 57 years as one of the nation’s largest vertically integrated real estate investment and finance groups, Inland continues to evolve while maintaining long-standing ties to the communities it serves. The relocation reflects how Inland is aligning its workplace strategy with long-term business priorities and the changing ways its teams collaborate. Given Inland’s multiple years of experience in property management, as part of this transaction Inland has also been awarded the right to manage the building for the Landlord as part of its ongoing tenancy.

Located in the Eastern East/West (E/W) submarket, 3050 Highland Parkway is undergoing a comprehensive renovation of its common areas and shared amenities, positioning the building to meet growing demand for high-quality, amenitized office environments.

Planned upgrades include a refreshed lobby, a grand staircase connecting to the lower level, and brand-new tenant amenities such as a fitness center, tenant lounge, library-style workspace, deli/café, conference center and game room. These improvements will be delivered in tandem with Inland’s interior buildout.

“Inland’s commitment reflects how occupiers are re-evaluating their real estate through a long-term lens,” said Shay. “Comprehensive amenity investments and flexible, multi-tenant environments are increasingly critical to attracting and retaining tenants, and this lease is a strong signal of sustained demand for high-quality office product in the western suburbs.”

Inland’s decision aligns with broader workplace trends outlined in JLL’s Workforce Preference Barometer, which shows that while companies continue to optimize their footprints, occupiers are increasingly prioritizing workplace experience, collaboration and flexibility to support in-office engagement and productivity. As organizations refine established in-office policies, investment is shifting toward amenity-rich, technology-enabled environments designed to bring people together and support more agile ways of working.

In March, Crain’s Chicago Business reported that “Highland Park-based developer GTZ Properties is under contract to buy the Oak Brook property from Inland as part of a 27-acre retail redevelopment anchored by Amazon, GTZ Managing Principal Mitch Goltz confirmed. The Inland property is adjacent to the 17-acre Oak Brook Office Center complex that GTZ bought out of foreclosure last summer for $9 million.”


About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 113,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About The Inland Real Estate Companies, LLC
The Inland Real Estate Companies, LLC, headquartered in Oak Brook, Illinois, is part of The Inland Real Estate Group of Companies, Inc., one of the nation’s largest vertically integrated real estate investment, finance, and operating groups. Since 1968, Inland member companies have collectively conducted over $125 billion in commercial real estate transactions and sponsored over 840 alternative investment programs, serving both individual and institutional investors. Inland member companies also deliver a comprehensive suite of commercial real estate services spanning acquisitions, asset management, development, finance, and property management. For more information about Inland and its member companies, please visit www.inlandgroup.com.

Collaboration is in the DNA of Downers Grove

Celebrating more than 15 years of the Downers Grove Economic Development Corporation, we look back at the values that built Downers Grove and continue to define it today. 

It all started with the ox.

In 1835, three years after the area’s first settler arrived in what would become Downers Grove, Pierce Downer set out to build a trail. He wasn’t alone. Since arriving, he had been joined by Israel Blodgett and Samuel Curtiss, a pair of settlers who purchased nearby land – at a cool $1.25/acre – where they established a farm and a blacksmith shop.

That morning, the men gathered in the forest to lead a team of oxen. The animals were strapped to a giant log. As they pulled it forward, the log slowly transformed the trail, flattening and widening it. By the time their work was finished, the homesteaders had built a new trail linking their properties to another path: a main thoroughfare that ran from Naper Settlement (Naperville) all the way to Chicago. Things would never be the same.

At the time, it may not have looked like much – a handful of men and oxen dragging a log through the forest – but by building this trail, the settlers connected their tiny village to the rest of the region, laying the groundwork for more people and businesses to move to the community. It was a strategic move.

It was also the area’s very first collaborative economic-development project—though far from the last.

“Collaboration and strategic planning are at the heart of good economic development,” says Michael Cassa, President and CEO of the Downers Grove Economic Development Corporation (DGEDC). The organization, a public-private collaboration that spearheads efforts to attract and retain businesses in Downers Grove, celebrated its 15th year in 2021. 

“The most sustainable and meaningful growth occurs when you have everyone – from both the private and public sectors – moving in the same direction, working to realize a collective vision. We help establish that vision and guide the community towards it.”

The DGEDC is the culmination of a long history of collaboration and strategic planning in Downers Grove. Years after Pierce and his fellow settlers built their new trail, the people of Downers Grove would once again work together – along with leaders of surrounding communities – to lobby the Burlington Railroad Company to build a railroad from Chicago to Aurora. Opened in 1864, the railroad spurred further population growth, as well as the area’s first industrial operations.

In the decades that followed, the public and private leaders of Downers Grove continued to lobby on behalf of their community and guide the area through times of transition.

In the mid-twentieth century, a pair of major tollways were constructed along the village’s northern and western boundaries: a highway in 1958 that would later become I-88, along with I-355 in 1989.

Much like the railroad, these tollways caused major economic expansion in the community. But it was the strategic planning of local business leaders and public officials that made this growth smart, sustainable, and beneficial to the various stakeholders of Downers Grove—residents, visitors, workers and businesses alike.

Then, in 2006, a group of community leaders founded the Downers Grove Economic Development Corporation. A spiritual successor to the many collaborations that transformed Downers Grove from a sleepy village to the diverse and thriving economy it is today, the DGEDC brought together public and private leaders to work collaboratively and strategically.

It couldn’t have come at a better time. In the 2000s, market trends were shifting, e-commerce was rising, and the global economy was entering a new age of volatility. It was time to work together and think strategically. 

Today, one of the DGEDC’s biggest responsibilities is guiding Downers Grove through the economic changes occurring both within and beyond its borders.

Nowhere is there a faster and more dramatic transformation than in the retail market.

Driven by shifting consumer trends and the rise of e-commerce, retailers are hungry for strategic locations for their distribution centers and warehouses. They need locations that are close to their customers, close to a good workforce, and close to a solid transportation network.

Downers Grove hits all three marks. The community is located within a 30-minute drive (or a quick train ride) of 1.4 million qualified workers. Thanks to the two major tollways that border Downers Grove, goods can be quickly and efficiently shipped to customers anywhere in the Chicago region or beyond.

Much like the groups that lobbied for the railroad in the 19th century and capitalized on the new highways of the 20th, the DGEDC works to identify opportunities for businesses to build or expand in Downers Grove, then promotes the community’s advantages to target companies. They also work with the Village of Downers Grove to attract these businesses through incentive programs and infrastructure investments. Meanwhile, the group coordinates the many active projects within Downers Grove to ensure that each one fits into the big picture—the community’s vision for the future.  

The impact of DGEDC’s work is three-fold:

First, you have stories like Bridge Point Downers Grove. The development, which now features three buildings with more than 100 docks and nearly 700 parking spaces, is now home to two Amazon warehouses, as well as a Cooper’s Hawk Winery distribution center.

Today, the location seems like an obvious fit for distribution. It’s just over a mile from I-355 and three miles from I-88. That means distributors can quickly and efficiently get their products to customers, and e-commerce retailers can deliver time-sensitive services like one-day shipping.

“When we began seeing these new trends in industrial real estate and e-commerce, we realized that Downers Grove was in the perfect location,” says Nick Siegel, a Partner at Bridge Industrial, which developed Bridge Point Downers Grove as a joint venture with Banner Oak Capital Partners.

“Here, our tenants have the transportation network, the workforce, the diverse economy, and a community they really love.”

And yet, only a few years ago, the site was a vacant, 74-acre plot with a functionally useless facility. It was only through the collaboration of public and private leaders that the site was identified as a prime location for e-commerce retailers and others, then marketed to developers and potential tenants. DGEDC and the Village saw the site’s potential, they saw how it fit into the big picture, and they worked together to bring it to life.

Bridge Point’s story mirrors other e-commerce-related developments happening in Downers Grove, many of them impacted by the collaborative work of the DGEDC and the Village of Downers Grove. In addition to Bridge Point, Downers Grove has welcomed a number of new distribution centers – ranging from 24,000 to 170,000 square-feet – for businesses like Bridge Industrial, Remedi Senior Care, Thyssen Krupp and Green Bay Packaging, among others. Behind each of these developments, there’s a story of collaboration.

But the story of Downers Grove and the DGEDC is bigger than any one industry—even one as impactful as online retail.

Historically, the community has been defined by a large, diverse group of small and mid-sized businesses. (That includes brick and mortar retail, which, although evolving, continues to account for more than 80% of all U.S. retail sales.) Since the development of the tollways that border Downers Grove, the community has welcomed a number of corporate headquarters and regional offices, from Rexnord Corporation, which recently completed their new 248,000-square-foot manufacturing facility and Aerospace Division Headquarters in Ellsworth Business Park, to Flavorchem, which just opened a 25,000-square-foot innovation center at Oak Grove Commons Business Park.

While newer markets are key to the area’s growth, it’s the legacy industries and businesses that form the basis of its diversity and resiliency. A central part of the DGEDC’s mission is to support these businesses by lobbying on their behalf, marketing them to visitors, helping coordinate expansion and new investment, and promoting business-friendly policies, such as the community’s historically low commercial taxes.

Finally, there’s downtown Downers Grove—an area that’s critical to the community’s appeal to residents, visitors and businesses. Over the last few decades, the Village and the DGEDC have spurred investment in the area through promotion and innovative programs. In 1997, the Village established a Tax Increment Financing (TIF) district in the downtown area. (A TIF allows a government to invest in public infrastructure and other improvements up front, then pay for them later with tax revenue generated by the project.) The program resulted in $48M in public improvements and, over the same period, $161M in private investment.

As the Village and the DGEDC led efforts to promote the downtown’s revitalization, the area saw a wave of new multi-family residential developments—including Opus Development, a new apartment complex that will soon break ground in downtown Downers Grove. Meanwhile, a mix of new restaurants and shops have sprung up: Bar Chido, Cadence Kitchen, The Foxtail, Gia Mia, Pierce Tavern and Wasabi, to name a few. During the height of the COVID-19 pandemic, the DGEDC played a critical role in supporting businesses like these and connecting them to key resources. 

As you can see, much of the work of the DGEDC is about the future: the future of the community’s businesses, its historic downtown, its visitors and residents, and its position in the world of e-commerce.

At the same time, the values that guide the community today are the very same ones that drove its first settlers to build that trail all those years ago.

“Of course no one knows exactly what the future will bring,” says Cassa. “But I can tell you that we will build our best future so long as we continue to work together and think strategically.

“In Downers Grove, that’s what we’ve always been about.”


About the Downers Grove Economic Development Corporation 

Since 2006, the Downers Grove Economic Development Corporation has spearheaded efforts in the village to attract new businesses and developers, while retaining legacy businesses and expanding promising developments. As the community continues to grow and transform, the DGEDC board orchestrates public-private collaboration, helps businesses navigate change, promotes business-friendly policies, and coordinates the smart, sustainable growth of the diverse Downers Grove economy.

Learn more about the organization here.

Bridge Development Groundbreaking

Bridge Development Breaks Ground on 678,000 Sq. Ft. Project in Downers Grove

The Downers Grove Economic Development Corporation (DGEDC) recently announced that Bridge Development Partners, LLC, broke ground on Bridge Point Downers Grove. The 678,858 sq. ft. industrial/office development is a joint venture of Bridge Development Partners and Banner Oak Capital Partners. The project, which is on a 54-acre site off Lacey and Finley Roads, north of Warrenville Road, will be completed in early 2019. 

Bridge Development

“Bridge believes this project will be one of the most unique and notable new development starts in the Chicago industrial market in years,” said Steve Groetsema, Principal and Chicago Market Officer, Bridge Development Partners. “This is an irreplaceable large infill tract of land in Chicago’s west suburbs positioned to attract tenants from I-55, West Cook County and DuPage County submarkets.” 

The groundbreaking ceremony, which was hosted by Premier Design + Build Group, LLC, included Mayor Martin Tully, State Representative David Olsen, DGEDC President Michael Cassa, Village Manager Dave Fieldman, and DGEDC Chairman John Luka. The ceremony featured renderings of the three buildings: 3600 Lacey (174,576 sq. ft.), 3700 Lacey (212,937 sq. ft.) and 3800 Finley (291,345 sq. ft.). In total, the three buildings will have 106 docks and 681 parking spaces. Cushman and Wakefield is the leasing broker for the project.  

“I am thrilled that Bridge Development Partners has added Bridge Point Downers Grove to its impressive list of projects in the Chicago area” said Downers Grove Mayor Martin Tully. “Bridge Point tenants will be able to take advantage of the strategic location that provides visibility from both I-88 and I-355.” 

The Downers Grove Economic Development Corporation is the official agency for economic development for the Village of Downers Grove. Please visit their website at www.dgedc.com

A-To-Be

Portuguese Company Relocating U.S. Headquarters to DuPage County

Last month, executives from Portuguese mobility services company A-to-Be met with leaders from the County and toured Elite Manufacturing in Bloomingdale. The company is preparing for the relocation of its U.S. operations from Colorado to DuPage County following its recent award to supply the Illinois Tollway with 270 Automatic Toll Payment Machines (ATPMs).

A-to-Be was recently selected to supply the Illinois Tollway with the ATPM machines which will improve service to tollway users, including the underbanked, while saving the Illinois Tollway significant operational costs. The ATPM machines will be built through a partnership with Elite Manufacturing, an advanced machine design and fabrication company in Bloomingdale.

A-to-Be has been active in Portugal for 30 years and operating in the U.S. for the last three years from its U.S. headquarters in Colorado. Its U.S. headquarters relocated to Downers Grove, a short distance from the Tollway on November 1, 2017.

Rexnord Corporation to Build New Aerospace Facility in Downers Grove

Rexnord Corporation Downers Grove

The Downers Grove Economic Development Corporation announced today that Rexnord Corporation will build a new manufacturing facility and Aerospace Headquarters in Downers Grove. Rexnord plans to redevelop its existing site at 2400 Curtiss in the Ellsworth Business Park. Downers Grove was selected for the project following a national search. Rexnord, a 125-year old company, is a multiplatform industrial leader that serves a diverse array of global markets. 

 

“We are investing in a new facility on our existing site to support the growing needs of our customers,” said Jamie Quilter, Rexnord Vice President & General Manager – Aerospace. “The new facility will provide upgraded technology and additional capacity – as well as provide our customers with an exciting experience and our associates with a unique collaborative and innovative environment. 

 

Rexnord plans to build a 248,000 sq. ft. facility for its manufacturing operations and Aerospace Headquarters. The project is expected to be completed by 2019. 

 

“I am extremely excited that Rexnord is expanding their presence in the Village and making this significant investment in our community,” said Mayor Mart Tully. “The development of their new state of the art manufacturing facility and Aerospace Headquarters is a big win for Downers Grove.”

 

The DGEDC worked closely with officials from Rexnord, as well as the consulting firm that was retained for this project: Cushman & Wakefield. In addition, the Village of Downers Grove, Community High School District 99, and Downers Grove Grade School District 58, were instrumental in the attraction of this project.

Downers Grove Business, Blue Diamond Athletic Displays, Receives Metro Chicago Exports Grant

Finisher medals are a symbol of hard work, dedication and accomplishment, to say the very least for some. That’s why husband and wife, Ken and Nell Posmer of Downers Grove decided to find a better solution to showcase their hard earned Medals rather than store them in a drawer. After completing the Boston Marathon, Ken decided his finisher medal was too precious to toss in the drawer with the rest. Using his engineering skills combined with Nell’s artistic talent, the two created a very unique stainless steel Medal Display to showcase Ken’s accomplishments. Continue reading

Community Invited to Tour Advocate Good Samaritan Hospital’s New Pavilion

A dedication and open house for Advocate Good Samaritan Hospital’s new Deb and Alan Feldman Cardiovascular Pavilion is scheduled at 4 pm Aug. 25 at the hospital, 3815 Highland Ave. The public is invited.

Cardiologists Stephen Rowley, Eleanor T. Ross, and Gaile Sabaliauskas are scheduled to answer questions from attendees as part of a panel discussion on topics related to heart health. Continue reading

Hamilton Partners Aids in New Downers Grove Commute Option

Employees at the Esplanade office complex will have a new Downers Grove commute option that began April 6, thanks to the collaborative efforts of Metra, Pace, the Regional Transportation Authority, Transportation Management Association (TMA) of Lake Cook and other partners. On April 6, 2015 Pace began operations on Route 465 Belmont Station – Esplanade, offering four morning and three evening trips between the Esplanade and the Belmont Station on Metra’s BNSF Line. Continue reading