Comcast York Center
Oak Brook, IL
In 2013, Advalurem acquired an ownership interest in York Center, an 184,000 square feet office building located within the affluent Chicago MSA in Oak Brook, IL. The Property is 100% leased primarily to Comcast. Built in 1999, York Center features a direct underground access multi-level parking garage, full service café and fitness center.
Oak Brook is an affluent area of Chicago, proximate to many demand drivers, transportation and commercial nodes. Oak Brook remains one of Chicago’s strongest submarkets, supporting a diverse makeup of corporate tenants.
The business plan calls for streamlining operations, securing LEED gold certification, enhancing the rent roll and recapitalizing the property upon loan maturity. Advalurem structured the investment as sponsor equity and negotiated key partnership rights providing a path for early liquidation as well as enhanced profit sharing. Advalurem expects to hold the investment for seven years with an overall return in the mid-teens.