Columbia Centre I, II and II | Rosemont, IL
Columbia Centre was purchased in 2011 in a joint venture between White Oak, Angelo Gordon & Co., and Pearlmark Real Estate Partners. The Columbia Centre office complex consists of three Class A office buildings totaling 609,000 square feet and is located in Chicago’s O’Hare submarket along River Road and Bryn Mawr Avenue in Rosemont. The White Oak venture invested several million dollars of capital improvements and enhancements to greatly improve the tenant environment and enhance the properties position in the market place including cosmetic lobby, restroom and common area upgrades, the addition of a state-of-the-art fitness center, elevator upgrades, and curing several deferred maintenance issues.
Bryn Mawr and Balmoral Avenues has rapidly becoming the epicenter of office, dining, shopping and entertainment activity in O’Hare submarket with the addition of the adjacent Park at Rosemont, an $85 million, 200,000 square foot dining and entertainment facility containing a collection of venues surrounding a four season outdoor park as well as the $200 million Fashion Outlet Mall, a 500,000 square foot indoor outlet mall containing over 120 outlet retailers.
Columbia Centre I consists of a nine-story office tower, a five-level parking structure, and an asphalt paved surface parking lot. Completed in 1986, Columbia Centre I is designed with setbacks at the northwest and southeast corners from the 6th through the 9th floors and at the northeast and southwest corners on the 8th and 9th floors that create accessible terraces for its office users. Columbia Centre II consists of a seven-story office tower with an adjacent four-story parking garage. The building was completed in 1988 as the second phase of the Columbia Centre office complex and is designed with setbacks at the northwest and southeast corners on the 6th and 7th floors that create accessible terraces. Columbia Centre III consists of a nine-story office tower plus one basement level, an asphalt-paved surfaced parking lot and dedicated access to the adjacent structured-parking deck through a long term agreement with the City of Rosemont. The office tower was constructed in 1989 as the last phase of the Columbia Centre office complex and is designed with large setbacks on the 3rd and 9th floors that create accessible terraces for its office users.
The Park at Rosemont is directly adjacent to Columbia Centre III and is expected to draw over 50,000 visitors daily from at least a 15-mile radius. The center of The Park at Rosemont is set to include a four seasons outdoor park that will host year-round events, including ice skating, farmer’s markets, concerts, fairs and festivals, and exhibition sporting events. Both The Park and Fashion Outlets are being developed on the heels of the newly completed Rivers Casino, a $450 million, 147,000 square foot casino completed in July 2011 just minutes from Columbia Centre along River Road. To accommodate the traffic flows to this area, a new Interstate-294 off ramp is being added at Balmoral Avenue that will be an additional key access point for our Columbia Centre office tenants.