Located in the heart of Naperville, Illinois, 120 Oakbrook Center is a prominent office building that has been a part of the local business landscape for decades. As a hub for various companies and organizations, it has played a significant role in shaping the community's economy and growth. In this article, we will explore five key facts about 120 Oakbrook Center that you need to know, providing valuable insights into its history, architecture, and current status.
History and Development of 120 Oakbrook Center
120 Oakbrook Center was completed in 1982 as part of a larger office complex in the Oakbrook business park. The building was designed by renowned architects and constructed by a reputable development company. Initially, it served as a corporate headquarters for several major companies, taking advantage of its strategic location near major highways and airports. Over the years, the building has undergone renovations and expansions to accommodate the evolving needs of its tenants.
Architectural Features and Design
The building’s design is characterized by its sleek, modern façade and spacious interior layouts. With a total floor area of approximately 145,000 square feet, 120 Oakbrook Center offers ample space for office activities. The property features a multi-story structure with convenient access to elevators, stairwells, and parking facilities. Its architectural style is consistent with other buildings in the Oakbrook business park, creating a cohesive and professional environment for businesses.
| Building Specifications | Details |
|---|---|
| Completion Year | 1982 |
| Total Floor Area | 145,000 sq. ft. |
| Number of Stories | 5 |
| Parking Capacity | Over 500 spaces |
Key Points
- 120 Oakbrook Center is a 145,000 sq. ft. office building completed in 1982.
- The building features a modern design with ample interior space and convenient amenities.
- Its location in the Oakbrook business park provides easy access to major highways and airports.
- The property offers over 500 parking spaces, ensuring sufficient capacity for tenants and visitors.
- 120 Oakbrook Center has undergone renovations and expansions to meet the evolving needs of its tenants.
Tenant Information and Occupancy
The building has a diverse range of tenants, including professional services firms, technology companies, and healthcare organizations. As of the latest available data, the occupancy rate stands at approximately 92%, reflecting a strong demand for office space in the area. The average lease term is around 3-5 years, indicating a stable and committed tenant base.
Accessibility and Transportation
120 Oakbrook Center benefits from its proximity to major transportation routes, including Interstate 88 and the Illinois Tollway. The building is about 25 miles west of Chicago’s downtown area, making it an attractive option for businesses seeking a suburban location with easy access to the city. Public transportation options, including bus services, are readily available in the area.
Current Market Status and Trends
The commercial real estate market in the Chicago area has experienced fluctuations in recent years, influenced by factors such as economic trends and changes in workforce dynamics. Despite these challenges, 120 Oakbrook Center remains a sought-after property due to its prime location and high-quality amenities. As the demand for flexible and modern office spaces continues to grow, the building is well-positioned to adapt to evolving market needs.
Community Involvement and Environmental Considerations
The building’s owners and management team are committed to environmental sustainability and community involvement. The property has implemented various energy-efficient measures and waste reduction initiatives to minimize its environmental footprint. Additionally, the building participates in local community programs and supports charitable organizations in the area.
What is the history of 120 Oakbrook Center?
+120 Oakbrook Center was completed in 1982 as part of a larger office complex in the Oakbrook business park.
What are the building’s architectural features?
+The building features a modern design with a sleek façade, spacious interior layouts, and convenient access to elevators, stairwells, and parking facilities.
What is the current occupancy rate of the building?
+As of the latest available data, the occupancy rate stands at approximately 92%.
What are the transportation options available for tenants and visitors?
+The building benefits from its proximity to major transportation routes, including Interstate 88 and the Illinois Tollway, and public transportation options, including bus services, are readily available in the area.
What are the environmental initiatives implemented at 120 Oakbrook Center?
+The building’s owners and management team have implemented various energy-efficient measures and waste reduction initiatives to minimize its environmental footprint.
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