GCG Move Means Trouble for Bannockburn Building

GCG Financial, an insurance and investment firm, is relocating to Deerfield and a property owned by Chicago developer John Buck. What they leave behind, according to Chicago Real Estate Daily, is a mess of a situation up in Bannockburn.

GCG was the largest tenant in a 209,000 square foot building at 3000 Lakeside Drive in Bannockburn - a building that is now only 40 percent occupied. After the previous owner of the building elected to foreclose - the property is now in the hands of LNR Partners, who is faced with the struggle of owning a property once with an 88 percent occupancy rate and worth $36 million now appraised at $11.7 million.

In Deerfield, GCG Financial takes up the space at Three Parkway North, Suite 500.

Read more via Chicago Real Estate Daily