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Vernon Hills office building purchased by investors

An affiliate of Chicago-based Next Realty LLC has acquired a single-story, 47,000 square-foot office building at 935 Lakeview Parkway in Vernon Hills.

Terms of the transaction, made on behalf of Next Realty Fund IX LP, were not disclosed.

Tenants at the property include Fred’s Pro Shop, an ice hockey equipment and accessories store; Gavel International, which specializes in producing and executing meetings, conferences, events and incentive programs; the Riverside Foundation, a nonprofit organization providing developmental training to adults with intellectual and developmental impairments; Praxis Care, a center for sports injury rehabilitation therapy; and Thrive Chicago, a marketing company that offers brand management, customer acquisition and direct marketing services.

“As we emerge from the pandemic, single-story properties offer a competitive alternative to the traditional multistory office buildings, with convenient direct access to individual tenant spaces and abundant parking,” says Eteri Zaslavsky, managing director, Next Realty.

The property is located just off Route 60, in proximity to Hawthorn Mall. The 1.3 million-square-foot regional mall is currently undergoing a $250 million renovation, creating a modern mixed-use development of upscale retail, dining and entertainment and luxury apartments.