Mitch Goltz Of GTZ Properties Acquires Four-Building Office Center In Oak Brook For $9M

The transaction involves an office asset consisting of four buildings located at 2707, 2803, 2805 & 2809 Butterfield Road in Oak Brook. The property occupies 17 acres and features a total square footage of 327,000. The sale price for the property was $9,000,000, equating to a price per square foot of $28.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $9,000,000
• Square Footage: 327,000
• Price per Square Foot: $28
• Buyer: Mitch Goltz - GTZ Properties
• Seller: Rick Charlton - Adventus Realty Trust
• Broker: Matthew Tarshis - Frontline Real Estate Partners

GTZ Properties acquired the asset following a foreclosure against Adventus Realty Trust, which previously valued the property at $33,000,000. Plans for the site include renovating two buildings for office use and redeveloping the remaining 12 acres into mixed-use developments, facilitated by Frontline Real Estate Partners as the broker for this transaction.