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Direct 1031 Exchange Acquires Office Complex in Chicago, Suburb

06/14/2018
Direct 1031 Exchange, a national real estate investment sponsor providing accredited investors direct access to Section 1031 exchange investments, acquired 2675 Pratum Ave., a 23,500-square-foot Class A office building in the Chicago suburb of Hoffman Estates, Illinois.

According to company officials “the property will be available for investments by accredited investors via a Delaware statutory trust, Direct 1031 Exchange Hoffman Estates, DST. A three-story office building, 2675 Pratum Ave., is 100 percent leased for 20 years to WT Group, a full-service engineering, design and consulting firm. The property was purchased in a sale-leaseback transaction.”

"This is a well-located Class A office building that serves as the corporate headquarters of WT Group, which just completed renovating and expanding the building to fit its growing needs," said Matt Bear, Founder & CEO of Direct 1031 Exchange.

"The WT Group is a multi-generational company that has demonstrated a strong commitment to the building with its long-term leaseback of the property. Direct 1031 Exchange is pleased to structure this property as a direct DST investment for accredited investors,” he added.

Situated on nearly 2 acres of land, nestled within a 780-acre master-planned business park, the building is located near Interstate 90 next to the Arthur L. Janura Forest Preserve and Spring Lake Forest Preserve. It is also within walking distance of Sears Centre Arena and a variety of restaurant options, including Hoffman Estates Beer Garden, BierGarten, The Saddle Room and other venues. The property is situated close to the Prairie Stone Crossing shopping center, which features stores like Target, L.L. Bean, PetSmart, DSW, restaurants and more.

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