Napleton Automotive Group Acquires Oakbrook Terrace Tower In $60M Deal

The Napleton family, owners of Napleton Automotive Group, has acquired Oakbrook Terrace Tower, a prominent Chicago suburban office property, for $60 million in an all-cash deal from Blackstone Group. The 31-story tower, located at 1 Tower Lane in Oakbrook Terrace, is the largest sale of a multi-tenant suburban office building in 18 months. It boasts a total square footage of 785,257, resulting in a price per square foot of $76. The tower is well-known as the tallest building in Illinois outside of Chicago.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $60,000,000
• Address: 1 Tower Lane, Oakbrook Terrace
• Market: Oakbrook Terrace

The buyer, the Napleton family, is represented by Ed Napleton, who is part of the Napleton Automotive Group. The seller, Blackstone Group, is led by Stephen Schwarzman. The deal was facilitated by Bryan Rosenberg, David Caprile, and Stephen Livaditis from Eastdil Secured.