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September 2020

The case for single-story office properties

Concourse Chicago. Photo courtesy of Berger Asset Management

Jonathan Berger, owner of the Concourse Chicago single-story office campus, shares his perspective on what constitutes “Class A” property in light of the health & safety considerations of the current office environment.

“According to CoStar, the inventory of 3,128 office buildings in the Chicago area totals 284.7 million square feet, including downtown and suburban properties. Of that total, 470 buildings totaling 157 million square feet are considered to be class A properties. Not one is a single-story building.

As owner of Concourse Chicago, a 165,000-square-foot office complex in the O’Hare office market, I understand it may be a losing battle to classify a single-story building/complex class A. The more compelling argument is that a single-story office building can more easily achieve the status of first class by the overall experience and value it provides to those who matter most, its tenants.”

Read the full story from the Daily Herald Business Ledger here. 

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