A Fresh Take on CRE

Chicago Weekly Comp Digest: Rittal Takes 12,000 SF in Schaumburg, IPMA Moves into New Office in Burr Ridge

 

Every week, we compile a digest of some recent deals from the CompStak database. We hope you will find the information helpful.
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Rittal Takes 12,000 SF in Schaumburg
Rittal signed a new lease at 425 North Martingale Road in Schaumburg. The company will pay rent in the low $10s PSF for almost 12,000 SF. The term of the lease is five and a half years and includes six months in free rent. The landlord, New York Life Insurance Company, was represented by CBRE's Mark Smith, while Rittal was represented by NAI Hiffman's David Haigh, Jim Adler, and John Cash.
NxStage Medical Signs in Oak Brook 
NxStage Medical signed a new lease at 1600 16th Street in Oak Brook. The outpatient dialysis center will pay rent in the low $10s PSF for the 8,000 SF space. The term of the lease is five years.
IPMA Moves into New Space in Burr Ridge 
 
The Illinois Podiatric Medical Association (IPMA) moved into its new office at 745 McClintock Drive in Burr Ridge last week. The association will pay rent in the high $10s PSF for the 2,376 SF space. The term of the lease is five and a half years and includes five months of free rent.