Newmark Retained to Sell 1350 Touhy Plaza, an Office Asset in Suburban Chicago’s Top-Performing O’Hare Submarket

June 23, 2026 12:00 PM

Newmark announces the Company has been hired to exclusively lead the sale of 1350 Touhy Plaza, a 244,049-square-foot Class A office asset in Des Plaines, Illinois. The property is being offered with guidance in the low $20 million range.

Newmark is representing the seller, a partnership between Deer Park Investors and Marc Realty. The Chicago-based team is led by Senior Managing Director Derek Fohl, Executive Managing Director Jim Postweiler, Senior Managing Director Peter Harwood and Associate Director Jack Trager, with analytical support from Associate Jake Paschen.

The property presents an attractive value-add opportunity to acquire an office asset in the O'Hare submarket with significant mark-to-market potential. Current Class A asking rents in the submarket are 28% higher than the property's in-place rents, positioning it for future rental upside. The property is currently 89.5% occupied and is expected to provide near-term cash flow while supporting future leasing flexibility. Over the next two-plus years, upcoming lease expirations and existing vacancy will create the potential for up to 85,000 square feet of available space, including a contiguous 60,000-square-foot block capable of accommodating a large office user. An additional 25,000 square feet of direct vacancy is currently available for lease.

"1350 Touhy presents a unique point-in-time opportunity for both investors and owner-users," said Fohl. "The property benefits from significant capital improvements and amenity enhancements completed by current ownership, while its existing vacancy and unique 40,000-square-foot floor plates provide flexibility for lease-up strategies or future occupancy needs. The ability to accommodate growth within a Class A asset further distinguishes the opportunity."

The property's amenity offerings include heated underground parking, a 2,200-square-foot fitness center with locker rooms and showers, a 3,400-square-foot Halsted Street Deli with black iron finishes and a 2,750-square-foot conference room.

Located less than a mile north from O'Hare International Airport, 1350 Touhy Plaza provides seamless access to one of North America's largest transportation hubs. The property is also well connected to downtown Chicago and the affluent surrounding suburbs via I-294 and I-90. Tenants enjoy the area's robust amenity offering, including Allstate Arena and Rosemont Market Place just south of the property, as well as Parkway Bank Park Entertainment District, the Fashion Outlets of Chicago and numerous dining options nearby.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended March 31, 2026, Newmark generated revenues of more than $3.4 billion. As of March 31, 2026, Newmark and its business partners together operated from over 185 offices with more than 9,600 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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