Inland Real Estate Signs 140,000-SF, 16.5-Year Office Headquarters Lease in Downers Grove, IL

DOWNERS GROVE, IL — The Inland Real Estate Group of Companies has signed an approximately 140,000-square-foot, 16.5-year headquarters lease at 3050 Highland Parkway in Downers Grove, Illinois, JLL announced March 3, 2026. The office transaction encompasses more than half of the 260,852-rentable-square-foot, multi-tenant building and marks a strategic relocation for one of the nation's largest vertically integrated real estate investment and finance groups.

Inland will occupy floors 7, 6, 5, and a portion of the fourth floor at the property, which is part of Highland Landmark Office Park. The company is expected to take occupancy later in 2026. As part of the transaction, Inland has also been awarded property management responsibilities for the building on behalf of the landlord.

Deal Details and Broker Representation

JLL represented the landlord in the leasing transaction, with Jeff Shay, executive vice president, and Allyson Birchmeier, vice president, leading that assignment. Larry Sajdak, executive vice president, and Sean Steuart, vice president of leasing, represented Inland as the tenant. No financial terms, including base rent or total lease value, were publicly disclosed.

The property is located in the Eastern East/West submarket of suburban Chicago. No information regarding the building's ownership or year of construction was disclosed in the announcement.

"Our new headquarters reflects a broader investment in our people and how we work together," said Anthony Chereso, CEO and President of The Inland Real Estate Companies, LLC. "Bringing our teams together in a highly amenitized, collaborative environment allows us to strengthen our culture, operate more efficiently and ensure our workplace supports the long-term growth initiatives of our business."

Building Renovation and Amenity Upgrades Underway

The 3050 Highland Parkway property is currently undergoing a comprehensive renovation of its common areas and shared amenities. Planned upgrades include a refreshed lobby, a grand staircase connecting to the lower level, and new tenant amenities such as a fitness center, tenant lounge, library-style workspace, deli/café, conference center, and game room. These improvements are expected to be delivered in tandem with Inland's interior buildout.

Strategic Rationale: Collaboration, Talent, and Long-Term Workplace Planning

Inland's relocation to a new headquarters space aligns with the company's long-term strategic business plan to foster collaboration, growth, attract talent, and better serve employee needs, according to the announcement. With more than 57 years in operation, Inland continues to evolve while maintaining long-standing ties to the communities it serves.

The lease reflects how Inland is aligning its workplace strategy with long-term business priorities and the changing ways its teams collaborate. Given Inland's experience in property management, the company has also been awarded the right to manage the building for the landlord as part of its ongoing tenancy.

Suburban Chicago Office Market Context

The Eastern East/West submarket, where 3050 Highland Parkway is located, is positioned to meet growing demand for high-quality, amenitized office environments, according to JLL. The Inland lease underscores continued demand for well-located, renovated office buildings among established occupiers with long-term space commitments.

The 16.5-year lease term represents a long-term commitment in the current office environment. The addition of property management duties further deepens Inland's operational involvement at the building, leveraging the firm's experience in that discipline.