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150 North Field Drive

Updated Feb 25, 2026

John Ziegler Of STG Group Acquires Conway Park Office Complex From Pembroke IV For $9.3M
SOLDOffice

John Ziegler Of STG Group Acquires Conway Park Office Complex From Pembroke IV For $9.3M

150 North Field Drive

$9,300,000

$41/SF

Building Size

225,354 SF

Asset Type

Office

Closing

Feb 24, 2026

About this deal

AI

The Conway Park office complex, located at 100 and 150 North Field Drive in Lake Forest, has been sold for $9,300,000. This office asset encompasses a total space of 225,354 square feet, resulting in a price per square foot of approximately $41. The property was acquired while being roughly 45% leased and is noted for being sold out of receivership.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $9,300,000
  • Square Footage: 225,354
  • Price per Square Foot: $41
  • Buyer: John Ziegler - STG Group
  • Seller: Pembroke IV

This transaction resolves a $28 million foreclosure associated with the previous owner, Pembroke IV, and a loan amounting to $33 million from Money360. The deal highlights ongoing challenges in the suburban Chicago office market, which continues to witness significant distress, prompting discounted sales.

On the Map

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$9,300,000

$41/SF

Office

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Players

John Ziegler

The STG Group

Buyer

$13M

vol

3 deals

Buyer
Bilt advertisement

Lake Forest Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $41 per square foot on a published $9.3M for 225,354 square feet (2026).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.71%

Cash-on-Cash

-0.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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