The Boler Company is moving its global headquarters to a new 180,000-square-foot office building that will be constructed on the former Motorola Solutions campus in Schaumburg next year.
The Itasca-based manufacturer’s move is a big win for UrbanStreet Group and VennPoint Real Estate, who are revamping the sprawling former corporate headquarters into a mixed-use development.
Boler is the parent company of Hendrickson Holdings, a manufacturer of heavy-duty suspensions for commercial vehicles, and Anchor Harvey, an aluminum forging company, according to the Daily Herald.
For Boler, the developers will erect an eight-story office building on 4.2 acres just north of Zurich North America’s headquarters. The building is expected to be ready by the end of 2020.
The Boler building will join a number of other projects already in the works for the 225-acre Motorola site, including the 260-unit Element at Veridian luxury apartment complex that VennPoint and UrbanStreet recently scored a $55.8 million loan from ACORE Capital to build. Topgolf was the first tenant to sign on to the redevelopment last year.
In 2015, Motorola Solutions announced it was vacating much of the site for the West Loop, joining a slew of corporate relocations into the city.
The developers plan more retail, hotel, senior living and entertainment options to join the announced tenants. Future development also would include two more office buildings totaling 270,000 square feet, according to the Daily Herald. [Daily Herald] — John O’Brien