Highland Landmark V — Sale in Downers Grove, IL

  • Price: $515
  • Listing type: For sale
  • Asset type: Office
  • Location: Downers Grove, IL 60515
  • Year built: 2008

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Description

Jones Lang LaSalle Americas, Inc. ("JLL"), as exclusive advisor, in conjunction with RealINSIGHT Marketplace, is pleased to present the opportunity to acquire the fee simple interest in Highland Landmark V (the "Property" or "Opportunity"), a boutique 251,229 RSF Fortune 500 headquarter quality Class A office asset located within the premier Eastern East-West Corridor submarket of suburban Chicago, Illinois. Strategically situated within the tax advantage boundaries of DuPage County, Highland Landmark V was constructed in 2008, placing the Property amongst the newest generation of suburban Chicago office assets, which comprise only 3.5% of the total market inventory. Solely occupied by BBB+ investment grade credit and Fortune 500 tenant Dover, which has maintained its global headquarters at the Property since 2010, Highland Landmark V is currently 32.2% leased with 4.0 years of weighted average remaining lease term ("WALT"). With four full floor top-of-building vacancies totaling approximately 139,000 RSF of contiguous availability, the Property offers a rare opportunity to create value through lease up. Ownership recently significantly renovated and expanded the amenity package in 2025, positioning the Property to capture tenant demand in a market increasingly benefiting from the ongoing flight-to-quality trend. Strategically located adjacent to I-88 and I-355 with direct access to Downtown Chicago, Oak Brook, O'Hare International Airport, and an extensive amenity base, Highland Landmark V combines premier regional connectivity, DuPage County's significant real estate tax advantage, and top-of-building signage potential to create a compelling reset-basis investment opportunity at a substantial discount to replacement cost.

Market Context

This office in Downers Grove, IL is listed for sale at $515. The building dates to 2008. Compare it against other office listings for sale in Downers Grove, IL — view the full market.

As of Q1 2026, the Chicago office market showed a 27.2% vacancy rate, and average asking rents near $45.41/SF/yr. Source: multiple brokerage reports, Q1 2026.

Above-average vacancy gives buyers leverage and a wide set of comparables.

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Is the Chicago office market tightening or softening?
Vacancy is around 27.2% (Q1 2026).

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