The Chicago suburbs have too much vacant office space, but veteran broker Jack McKinney thinks he's found a place where there's not enough.
Mr. McKinney said his Chicago-based firm, J.F. McKinney & Associates Ltd., is kicking off a four-building, 52,000-square-foot office development Northbrook on spec, or without lining up tenants in advance. It's the first spec — short for speculative — office project in the suburbs since the crash.
McKinney's 7 acres — near Crate & Barrel Inc.'s corporate headquarters and the Willow Festival Shopping Center — could be in a rare suburban sweet spot for office development, said tenant broker Richard Schuham, co-leader of New York-based Studley Inc.'s Chicago office
“There's very little supply of good space there,” he said...
Broker plans first suburban spec office project since crash
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