Bradford Allen, a national full-service real estate firm, today announced it has completed two new leases totaling 35,000 square feet at 570 Lake Cook Road, a five-floor, 138,000-square-foot office building in Deerfield, Ill., a northern suburb of Chicago.
Venture X has signed a 19,000-square-foot lease to open a new coworking location in the former JUUL space on the building’s third floor. Expected to open later this year, the location will be the company’s second within Chicagoland, expanding its presence and versatile workspace solutions to meet the rising demand for suburban office space.
Bradford Allen’s Joel Berger, senior managing director, negotiated the lease on behalf of ownership, while Vic Sanmiguel of Bespoke Commercial Real Estate represented the tenant.
“The Venture X expansion from the western suburbs to the north is indicative of the growing need for quality office space in key suburban markets,” said Berger. “Companies value a physical presence in the area to take advantage of Lake County’s diverse talent pool and comparably affordable rental rates. At 570 Lake Cook, in particular, the adjacency to the Metra makes it uniquely suited to service a much broader workforce.”
In addition, planning and design consulting firm Kimley-Horn has signed a long-term extension and expanded its footprint to 16,000 square feet to accommodate its growth. Berger again negotiated the lease on behalf of ownership, while Hayden Rasmussen and Jon Azulay of Savills represented the tenant.
Located about 30 miles north of downtown Chicago, 570 Lake Cook Road was renovated last year and features heated underground parking, a top-floor solarium, state-of-the-art conference facilities and on-site management. It is located next to the Lake Cook Road Metra stop.
About Bradford Allen:
Bradford Allen (BA) is a commercial real estate firm based in the heart of downtown Chicago. Founded in 2003 by principals Jeffrey Bernstein and Laurence Elbaum as an office brokerage, the firm has grown into a vertically integrated commercial real estate company, offering a full array of services and expertise across multiple U.S. markets to entrepreneurial, corporate and not-for-profit clients, including strategy, marketing and transaction execution for occupiers, investors and owners. For more information, visit bradfordallen.com.
