Ace Hardware Corporation | Corporate Headquarters

Property Description

The Property is leased in its entirety to Ace Hardware Corporation (“Ace Hardware”) and serves as their corporate headquarters. Ace Hardware is a private cooperative comprised of over 4,600 independently owned and operated retail stores across the United States and in over 70 countries around the world. Situated on a 10 acre site directly fronting the I-88 Tollway in Oak Brook, Illinois, the Property consists of two freestanding, three-story office buildings that total approximately 206,000 rentable square feet of space.

Business Essential Attributes

Ace Hardware has occupied the Property since its completion in 1974, and their recent decision to maintain their corporate headquarters at the Property for an additional 12 years solidifies their long-term commitment to the Property and location. Ace Hardware is self-funding in excess of $5.0 million in improvements in addition to the former Landlord’s $4.0 million contribution to current Property renovations. Functions that take place in the Property include accounting and finance, marketing, customer service and customary headquarters activities.

Additional Property Information

Built in 1974, the Property was designed by world-renowned architect Mies Van Der Rohe. In 1993, the Property underwent an extensive two-year renovation at a project cost of approximately $10 million. In 2008, the Tenant invested over $2.0 million in a new 1.5 megawatt generator at the Property. Located in the heart of the East/West Tollway Submarket, and approximately 20 miles from downtown Chicago, the Property benefits from close proximity to both affluent executive housing and housing for the mid-management and support personnel that comprise the majority of the headquarters headcount.

Ace Hardware Corporation | Corporate Headquarters

Oak Brook (suburban Chicago), Illinois

PROPERTY AT A GLANCE

Property Type: Headquarters Office
Square Footage: 206,030

Leased: 100%
Lease Expiration: November 30, 2024
Renewal Option(s):
Three 5-year renewal options at Fair Market Rate.
Rent Increase(s):
3.0% increases in years 3, 5, and 7
Tenant: Ace Hardware Corporation
Website: www.acehardware.com