FarPoint Development to redevelop 6300 North River Road

Jason Simon, principal, and Jonathon Connor, senior vice president, of Colliers International | Chicago’s Suburban Office Advisory Group have been named exclusive leasing agents for the soon-to-be redeveloped 6300 North River Road building in Rosemont. 6300 North River Road was purchased in December 2017 through the partnership of developer Farpoint Development and Greco/DeRosa Investments. The team is an exceptionally accomplished sponsor with vast experience redeveloping office properties throughout the Chicagoland area. The principals behind this team were responsible for the conversion of a cold-storage building into Google’s Midwest headquarters, redevelopment of the 900,000 square feet at 111 N Canal into a tech-tenant hub, and the award-winning Fortune 100 corporate HQ for Hillshire Brands at 400 S Jefferson.

Farpoint is looking to bring their creative vision to the suburbs. “6300 North River Road will be a gamechanger in the O’Hare Market. The redevelopment is exciting as the property will be the first and only true loft office space available in the O’Hare market. Interior finishes will draw on the original character of the building structure and inspire the Mid-Century design,” said Jason Simon. The comprehensive refresh of the property will include a fully renovated lobby, replacement of all exterior windows and staining of the exterior brick. The building will be further transformed into Class A office space by providing a new state-of the-art fitness center, conference facilities, tenant lounge and micro food market with outdoor seating and underground executive parking. The property will also be the first suburban office building to offer a yoga room with Zen garden.

The $6 million core/shell renovation of the seven-story building property is anticipated to commence immediately and be completed by mid-2018. The building offers building top signage with exposure along Interstate 294 and prominent signage along River Road.

Absorption for 2017 in the O’Hare market totaled 123,026 square feet, according to Colliers | Chicago’s Suburban Office report for Q3 2017. At 14 percent, O’Hare continues to have the lowest Class A vacancy in all the suburban submarkets, and there are currently only three Class A blocks with over 100,000 square feet of contiguous office space available.