Transwestern Investment Co.’s equity fund, Aslan Realty Partners III LLC, acquired a nine-story, 221,000-square-foot office building in Rosemont, Ill., for an undisclosed price.

Columbia Centre I is situated within a 608,000-square-foot office complex less than one mile from O’Hare International Airport. The other buildings, Columbia Centre I and III, are also owned by Transwestern.

The purchase was made based on a “significant upside potential through the lease up of existing vacant space and near-term rollover in the improving Chicago office market,” said Transwestern CEO Stephen Quazzo.

Chicago-based Transwestern Investment Co. invests in commercial real estate nationwide.

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