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Greenstone Partners has completed the sale of Conway Park, a multi-building office complex totaling 225,000 square feet in north suburban Lake Forest, Illinois. The property is located at 100 and 150 N. Field Drive and was marketed through a competitive auction that drew 15 qualified bidders before closing.
The office campus sold for $8.9 million. Greenstone Partners Managing Partner Danny Spitz represented the buyer, The STG Group, a private real estate investment group based in Petaluma, California. The seller was advised by a Frontline Real Estate Partners team consisting of Matthew Tarshis, Andrew Rubin, Andrew Picchietti, Zack Pearlstein, and Andrew Slovis.
Conway Park is currently 43% leased, leaving a substantial portion of the campus available for future tenants and creating a lease-up opportunity for the new ownership. Despite the vacancy, three of the property’s five largest tenants have lease terms extending through 2030 and beyond, providing a measure of long-term cash flow stability within the rent roll.
The office buildings feature efficient floor plates and smaller suite configurations that align with current tenant preferences for flexible, right-sized space. This configuration positions the asset to appeal to a mix of users seeking modern layouts without committing to large blocks of space.
The complex is situated near several major corporate offices, including those of AbbVie, Pfizer, Brunswick, CDW, and Grainger, which contribute to the depth of the local employment base. It is also in proximity to the Chicago Bears’ Halas Hall practice facility, further anchoring the property within a cluster of established corporate and institutional users in the area.
The disposition of Conway Park highlights ongoing investor interest in suburban Chicago office assets where pricing, leasing upside, and existing tenant commitments can be balanced against current occupancy challenges.
The post Greenstone Partners Sells 225K-SF Conway Park Office Complex in Lake Forest for $8.9M appeared first on CRE Market Beat.
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