Cantera Development Receives Award for Excellence From the National Association of Industrial and Office Properties.

CHICAGO--(BUSINESS WIRE)--Nov. 13, 1998--The National Association of Industrial and Office Properties (NAIOP) Chicago Chapter last night gave its 1998 Award for Excellence to Cantera, a 650-acre, mixed-use development in Warrenville, IL. Juliane M. Kelly, vice president at LaSalle Partners Incorporated and project executive of Cantera, accepted the award as the property's developer on behalf of Cantera's owner, the Warrenville Development Limited Partnership (WDLP). The awards dinner, NAIOP's 11th in Chicago, was held at the Westin River North hotel.

Located in the heart of the East-West Corridor, Cantera is a high-quality, mixed-use community of office, retail, industrial, residential and hotel developments, and features more than 30 acres of wetlands, an 11-acre lake and a planned 15-acre riverwalk.

NAIOP's Award for Excellence is given to an individual or organization in recognition of contributions to the commercial real estate industry or community or in recognition of another outstanding contribution or achievement.

Cantera won the award in a field of seven finalists.

After significant time invested in due diligence, securing entitlements, master planning, infrastructure improvements and land reclamation, the first site at Cantera was offered for sale in 1994. Today, with 17 completed projects, Cantera is one of the fastest-growing, mixed-use developments in the Midwest. It has earned a national reputation for the quality of its commercial and residential developments and tenants and for its remarkably rapid growth and market acceptance.

Currently, 42 percent of Cantera's 420 developable acres have been developed, are in the process of being developed, or have been sold. In 1997 alone, LaSalle Partners sold 76 acres for seven major construction projects. The high level of interest and activity in Cantera has raised the profile of Warrenville and caused Cantera's developers to revise the completion projection from 20 years to 10 to 15 years.

"Cantera has exceeded nearly every expectation since its inception and has experienced phenomenal growth and success. We are pleased to accept this NAIOP award, which reinforces Cantera's reputation as one of the premier mixed-use developments in the country," said LaSalle Partners' Kelly.

Among businesses calling Cantera home are Amoco Corporation, which occupies a 200,000-square-foot office building in the northwest quadrant of the property; McDonald's Corporation, which has moved into the recently completed Phase I of Cornerstone at Cantera building; and Tox Pressotechnik, a German-based air cylinder manufacturer which selected Cantera for its North American headquarters.

Cantera's entertainment component is anchored by a 30-screen state-of-the-art AMC movie theater with five restaurants. The Family Golf Center offers outdoor and indoor tees as well as practice areas and a 3,500-square-foot clubhouse.

Also at Cantera, Village Green Companies has completed development of 343 luxury apartments, Concord Homes is currently selling a 160-unit townhouse project, and AmeriSuites has opened a 128-room hotel.

Some projects under development include the multi-tenant office complex Diehl Point at Cantera and the 60,000-square-foot corporate headquarters for Neumann Homes, the third largest homebuilder in the Chicago area.

To serve these high-profile corporate users, Creme de la Creme, a leading early childhood center, recently started construction on a 20,000-square-foot nursery and preschool facility that will accommodate more than 350 children in Warrenville and its surrounding communities. Creme's environment offers everything from a computer lab and a dance studio to an interactive TV studio and barbershop.

Cantera is being developed by LaSalle Partners Incorporated on behalf of the Warrenville Development Limited Partnership--a venture of AmProp, Inc. (a wholly owned subsidiary of Amoco Corporation), Elmhurst-Chicago Stone Company and LaSalle Partners. The development will consist of five million square feet of office, one million square feet of high-tech and R&D, one million square feet of retail and amenities, and 500 multi-family residential units.