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

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.