A Finnish dental equipment firm is seeking to offload an award-winning office building at the Prairie Stone Business Park in Hoffman Estates.
Planmeca has placed its 90,000-square-foot property at 2600 Forbs Avenue on the market for $11 million, or $122 per square foot, the Daily Herald reported.
Building an equivalent building today would cost an estimated $660 per square foot, said Kelly Disser of NAI Hiffman, the brokerage managing the listing
“The construction is immaculate,” Disser said. “It’s been impeccably maintained.”
If a buyer pays the asking price, it would represent a 75 percent return for the dental firm, which paid about $70 per square foot for the property in 2019.
The single-story building, developed by mattress giant Serta in 2009, garnered recognition for its design, winning the 2010 Institute Honor Award from the American Institute of Architects. Planmeca acquired the site a decade later, repurposing it for its U.S. headquarters, before moving its operations to Charlotte, North Carolina.
The village wants to preserve the building’s original design, Hoffman Estates Economic Development Director Kevin Kramer said. Prospective buyers have already inquired about warehouse possibilities, but local officials are hesitant to allow any changes.
“Because it’s unique, it’s a double-edged sword, but it only takes one,” said Disser, in reference to securing the appropriate buyer for the space.
The building’s impressive design, high visibility, prime suburban location, and close proximity to O’Hare International Airport offer advantages for investors looking to establish a presence in a thriving business complex with well-developed infrastructure.
Some recent projects reshaping the landscape around Hoffman Estates include FPA Multifamily acquiring the 642-unit Reserve at Hoffman Estates for $102 million, one of the biggest apartment transactions this year. Compass Datacenters recently demolished the former Sears headquarters at 3333 Beverly Road to make way for a data center, and Microsoft secured a spec industrial site for $42 million.
— Andrew Terrell
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