Alter to Develop Corridors North in Suburban Chicago
- Feb 19, 2016
By Ioana Neamt, Associate Editor
Alter will develop Corridors North, a LEED-eligible office campus fronting the I-88 and I-355 expressways in the western Chicago suburb of Downers Grove, Alter President Michael Alter announced. The 50-acre development will feature large floor plates, on-site food service and a fitness center, and will offer tenants easy access to downtown Chicago, Midway International Airport and O’Hare International Airport. Additionally, the new development will provide dramatic views of the 1,700-acre Morton Arboretum.
Alter’s office campus currently houses Corridors I and II, two five-story buildings totaling 300,000 square feet of space, and Corridors III, a seven-story building totaling 217,500 square feet.
“It’s a built-to-suit experience at spec pricing,” Alter Executive Vice President Richard Gatto, who is leading the leasing team for the development, said in a statement. “This will be a genuine office neighborhood in the heart of the East/West corridor that intersects Class A office with hospitality and retail, within steps of one of the country’s great natural wildlife preserves.”
“Because we own this entire 50-acre site outright, we are able to offer our clients large contiguous blocks of space, flexible terms and expansion options across multiple buildings,” Gatto added.
The two-building development of Corridors North will include state-of-the-art tech space and a prototype of the ‘office of the future’ envisioned by architect Helmut Jahn. Totaling 470,000 square feet, Jahn’s concept for Corridors IV strives to fulfill “the need for an urban environment that could deliver collaboration, serendipity and the integration of all aspects of life and work.”
Images courtesy of Alter