Oakbrook Terrace, Illinois Commercial Real Estate 0 Listings

Oakbrook Terrace, Illinois: A Premier Destination for Commercial Real Estate

Introduction

Oakbrook Terrace, Illinois, a vibrant suburb located in the Chicago metropolitan area, offers a dynamic environment for commercial real estate (CRE) investment. Known for its strategic location and business-friendly atmosphere, Oakbrook Terrace is home to a diverse array of industries, including financial services, healthcare, and technology. With its high-quality infrastructure and proximity to Chicago, the city is a prime location for commercial property development and leasing.

Economic and Industry Overview

Oakbrook Terrace boasts a robust economy driven by several key industries that influence demand for various commercial property types:

Financial Services: The presence of numerous banks and financial institutions increases the demand for office spaces.
Healthcare: The region's healthcare facilities drive the need for medical office buildings and specialized facilities.
Technology and Innovation: The city's tech startups and IT companies contribute to the demand for flexible office and innovation spaces.

Local economic development initiatives, such as those from the DuPage County Economic Development, support business growth and attract new industries to the area.

Strategic Location and Transportation Infrastructure

Oakbrook Terrace's strategic location is bolstered by an extensive transportation network:

Highways: Easy access to major highways, including I-88 and I-294, facilitates efficient logistics and commuting.
Airports: Proximity to O'Hare International Airport and Midway International Airport enhances connectivity for business travelers.
Public Transit: Served by Metra Rail, offering convenient connections to Chicago.

These transportation advantages make Oakbrook Terrace a logistical hub for distribution and a desirable location for businesses seeking access to a skilled labor pool.

Commercial Real Estate Inventory & Zoning

Oakbrook Terrace features diverse CRE submarkets catering to various asset classes:

Central Business District (CBD): Primarily office spaces catering to corporate tenants.
Industrial Corridors: Areas zoned for light industrial and warehousing uses.
Innovation Districts: Spaces designed for startups and tech companies.

Recent zoning changes and incentives can be explored through the City of Oakbrook Terrace Zoning Map.

Major Employers and Institutions

Several major employers and institutions anchor the city's CRE demand:

Corporate Headquarters: Companies such as Redbox and Ferrara Candy.
Healthcare Institutions: Elmhurst Hospital and Advocate Good Samaritan Hospital.
Educational Centers: Proximity to College of DuPage.

These entities, along with government centers, create a steady demand for commercial spaces.

Notable Commercial Developments & Projects

Oakbrook Terrace is witnessing several significant development projects:

Mixed-Use Developments: Initiatives like the Oakbrook Terrace Corporate Center, featuring office, retail, and dining spaces.
Opportunity Zones: Areas designated for economic revitalization, offering attractive incentives for investors.

Further details can be found through the Oakbrook Terrace Planning Department.

Building Permits, Planning, and Development Tools

For developers and investors, Oakbrook Terrace provides comprehensive resources:

Market Data & Economic Reports

Accessing reliable market data is crucial for informed decision-making. Public data sets are available through census.gov and the city's Open Data Portal. Brevitas uses AI-powered aggregation from these sources to provide comprehensive insights into Oakbrook Terrace's market.