A 70,497-square-foot Oak Brook office building has a new owner, handing the suburb another test case in the great office reset. Lee & Associates of Illinois brokered the sale of the three-story property at 915 Harger Road to Urban Commercial Property Group, with the building roughly half leased at closing as the buyer hunts for assets it can reposition.
Tony Russo of Lee & Associates represented the seller, KMMRD Enterprises, and the law firm Godoy holds the building’s largest suite, according to REBusinessOnline. The outlet reports the asset was about 48 percent leased when the deal closed, giving the buyer plenty of vacancy to work with.
Market records show the sale closed in mid-May, and Traded lists a May 19, 2026, closing date and notes the purchase price was not disclosed. That timing and tight-lipped pricing fit a familiar pattern in the suburbs, where buyers often quietly scoop up buildings they plan to overhaul with significant capital.
A current listing for 915 Harger Road describes the property as a three-story, Class B office built in 1978 and renovated in 2021, with a typical 23,499-square-foot floor plate and roughly 275 surface parking spaces, per LoopNet. The listing also shows Urban Commercial as the local contact for leasing activity, a hint that the new owner plans to take a hands-on approach to filling space.
Buyer Plans Renovation Push
Urban Commercial Property Group plans to pour significant capital into renovations and deferred-maintenance work to make the building more competitive in a crowded market, REBusinessOnline reports. That playbook, buying underperforming suburban offices and upgrading them for modern tenants, has become a go-to move for private investors looking for value instead of headline-grabbing trophy towers.
Suburban Office Market Pressure
Suburban Chicago is still wrestling with elevated vacancy and selective trading. Bradford Allen’s Year-End 2025 research put suburban vacancy in the mid-20s and noted that buyers were targeting distressed or obsolete assets to recapitalize or convert, which helps explain the appeal of properties like 915 Harger Road, per Bradford Allen. Owners willing to spend on amenities and spec suites are seeing stronger leasing momentum than buildings that sit untouched.
The deal leaves Urban Commercial with a mid-size office it can upgrade and lease to firms priced out of downtown or looking for refreshed suburban space. For now, the terms are still under wraps and the renovation timeline has not been released, so Oak Brook tenants will have to wait a bit longer to see how this quiet suburban bet plays out.
