NAI Hiffman representing award-winning Hoffman Estates office building up for sale

From “Award-winning Hoffman Estates office building up for sale again” – The Daily Herald

An architecturally award-winning building in Hoffman Estates — designed and built by mattress manufacturer Serta for office and research and development space in 2009 before being sold to dental equipment producer Planmeca a decade later — is seeking a new buyer.

“The construction is immaculate. It’s been impeccably maintained,” said NAI Hiffman Executive Vice President Kelly Disser of the 90,000-square-foot building on 19 acres his real estate firm is marketing on behalf of Planmeca at 2600 Forbs Ave.

The asking price is $11 million, which NAI Hiffman considers a bargain given the current estimated replacement cost of $60 million to build the facility anew at today’s prices.

According to the firm, the building won the Institute Honor Award for Architecture from the American Institute of Architects in 2010, being the only Chicago-area project to be so recognized that year.

With the two successive owners having already demonstrated the building’s versatility, its size isn’t considered as daunting a prospect for the market as the sprawling Sears campus nearby once was, Disser said.

“We have to to find the right buyer and right user,” he added. “Because it’s unique it’s a double-edged sword, but it only takes one.”

Hoffman Estates Economic Development Director Kevin Kramer said while the building originally was constructed for Serta’s needs, Planmeca had a clear vision of its own for it in 2019. But that vision was compromised by the onset of the pandemic, which caused even a planned ribbon-cutting to not happen.

Planmeca, which is headquartered in Finland, already has moved its U.S. operations to Charlotte, North Carolina, Disser said.

Some of the early inquirers about the site have asked about the possibility of adding warehouse space, Kramer said. While village officials are open to that, they don’t want it to be at the expense of the building’s inherent attractive design.

“It’s a great site still. We like it.” Kramer said. “The office space is absolutely class A.”

And while the surrounding area’s development has taken a stronger turn toward entertainment and hospitality since the days of Serta’s interest, those are the very amenities office users are looking for today, Kramer said.

Panasonic’s neighboring presence also demonstrates that the Planmeca building isn’t the only lingering corporate site in the Prairie Stone Business Park, he added.

In today’s real estate market, the building’s top three strengths are the ability to own it, the image that comes with its design, and its proximity to and visibility from the tollway that offers quick access to O’Hare International Airport, Disser said.

His current expectation is for the building to continue to house a single occupant under its third owner.

For more information on this listing, please contact:

Kelly Disser
Executive Vice President – Industrial Services
630-317-0721
kdisser@hiffman.com

Michael Freitag
Executive Vice President – Industrial Services
630-693-0652
mfreitag@hiffman.com

About Hiffman National: 

Based in the Chicago area, with an additional five regional hubs and 30 satellite offices, Hiffman National provides superior property management, project services and accounting services to a diverse portfolio including office, medical office, retail and industrial properties nationally. The firm’s comprehensive property management platform and attentive approach to service contributes to client NOI and has helped the firm to more than double in size in five years. Hiffman National is an award-winning company with more than 250 employees strategically located throughout North America.

About NAI Hiffman:  

NAI Hiffman is one of the largest independent commercial real estate services firms in the US, with a primary focus on metropolitan Chicago, and part of the NAI Global network. We provide institutional and private leasing, property management, tenant representation, capital markets, project services, research, and marketing services for owners and occupiers of commercial real estate. To meet our clients’ growing needs outside of our exclusive NAI Hiffman territory, we launched Hiffman National, our dedicated property solutions division, which provides property management, project services, and property accounting services across the country. NAI Hiffman | Hiffman National is and award winning company headquartered in suburban Chicago, with more than 250 employees strategically located throughout North America.