Lease extension reflects the continued flight to quality in the Chicago’s suburban office market
News release
12 December 2024
JLL completes 70,000-square-foot lease renewal for Invesco in Downers Grove
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DOWNERS GROVE, IL., Dec. 12, 2024 – JLL announced today that it completed a 70,000-square-foot, long-term lease renewal on behalf of KORE Investments for Invesco, a global independent investment management firm. The Class A office property at 3500 Lacey Road in Downers Grove continues to stand out for its strategic location and modern amenities, furthering its reputation as a premier destination for corporate tenants.
JLL Managing Director Chris Cummins, Executive Vice President Dan Svachula and Senior Associate Allyson Birchmeier represented KORE Investments in the transaction. Additionally, JLL Property Management Vice President & Senior General Manager Sue Hatting, provided strategic support.
"This lease renewal underscores both the value of 3500 Lacey Road and the strength of the location for long-term corporate users,” said Cummins. “With its unmatched connectivity and premium amenities – ranging from a dog-friendly environment and onsite daycare – this property exemplifies the modern workplace, aligning with the evolving office strategies of today’s companies.”
The 13-story property boasts an impressive range of amenities, including:
- A brand-new, high-quality lobby featuring a coffee and wine bar
- A state-of-the-art fitness center equipped with advanced equipment and shower facilities
- The Community Café by Cooper’s Hawk
- Dog-friendly policies to enhance employee satisfaction
- Green spaces with walking paths and scenic pond views
- Convenient onsite daycare facility
Located within the East-West Corridor of the Chicago suburbs, the property is conveniently positioned just 18.9 miles from Chicago Midway International Airport and 20.3 miles from Chicago O’Hare International Airport.
“We are thrilled to continue our partnership with Invesco and look forward to supporting their ongoing operational needs for years to come,” said Kelli Lind, Chief Operating Officer for KORE Investments. “Their lease extension reinforces the growing demand for dynamic, adaptable office environments that prioritize both productivity and employee experience.”
According to JLL’s Chicago Suburbs Q3 2024 Office Outlook report, the suburban Chicago office market experienced its first period of positive quarterly absorption since Q3 2023. This activity was driven by large-scale relocations, with positive absorption in Class A partially offset by Class B and C properties.
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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 $20.8 billion and operations in over 80 countries around the world, our more than 111,000 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.