Rreef Acquires 141,000-SF Office Building

SCHILLER PARK, IL-Rreef, with a North America headquarters in San Francisco, has acquired an office building at 5100 River Rd. here. The building was acquired on behalf of an institutional client. The seller was North River Group LLC, based here.

A representative from Rreef declined to be interviewed. A representative from North River Group LLC did not respond to a request to be interviewed. A sales price was not disclosed but similar properties in the area sold for between $22 million and $25 million.

The 141,261-sf office building was constructed in 2000. The four-story building has a two-level parking garage. The property is near I-90, I-290 and I-294. Tenants include Motorola, Invensys APV Systems, Logicalis and LifeFitness, according to the company’s website. The asking lease rate for the building was not disclosed, but the average rate for the O’Hare submarket for class A office buildings is $26.48 per sf, according to a third quarter market report by Grubb & Ellis.