Distressed Office in Rosemont Listed Following Tenant Boost

A once-distressed office building just outside of Chicago is heading to market after a leasing rebound boosted its value.

Columbia Centre III sits a stone’s throw away from Chicago O’Hare International Airport, and is surrounded by a mixed use development featuring retail and multiple hotels. It’s also across the street from the Donald Stephens Convention Center, and has easy access to Interstates 90 and 294, as well as the airport. Costar first reported the listing of the 9-story, 255,486-square-foot building.

In April, the building at 9525 West Bryn Mawr Avenue in Rosemont made a key announcement: Claire’s would be moving their headquarters to there from Hoffman Estates, and occupying 43,214 square feet of space. Claire’s move boosted the building’s occupancy to 75 percent and the weighted average lease term to around 5 years, according to the outlet, who cited Newmark marketing materials.

Newmark brokers Derek Fohl, Mary Gilbank, Peter Harwood, Jim Postweiler and Jack Trager were hired to sell the building. They were hired by the special servicer for the loan on the property, New York-based Argentic Real Estate Finance. Columbia Centre III was seized by the lender in 2025 via a deed in lieu of foreclosure, according to the publication. The previous owners, Canada-based Adventus Realty Trust, lost control of the building after being smacked with a $29 million foreclosure suit.

The building has no asking price, but the outlet cites a source familiar with the property that claims it could sell in the $20 million-plus range, or around $100 per square foot.

Life Fitness and Morton’s The Steakhouse are also tenants in the building, and the addition of the Claire’s corporate headquarters could be used as a lure to attract more tenants.

The business center, which totals three buildings, is across the street from the Rosemont Theater and features the Parkway Bank Park Entertainment District, which has a comedy club, AMC Dine-In theater and a bowling alley.

— Hunter Cooke