November 23, 2016
A Chicago developer sold a River North loft office building for $35 million, more than four times what it paid for the half-empty structure in 2013.
A venture of Brijus Capital sold the seven story building at 363 W. Erie St. on Nov. 9 to Spaulding & Slye Investments for $35.3 million, said the seller and its broker, Jones Lang LaSalle.
December 31, 2016
Chicago’s loft office buildings, once the realm of mom-and-pop real estate investors, are attracting some unexpected newcomers.
Goldman Sachs, Credit Suisse and billionaire Neil Bluhm’s Walton Street Capital, all accustomed to spending hundreds of millions of dollars at a time in real estate deals, are among the big players investing in relatively small brick-and-timber buildings in neighborhoods like River North and the West Loop.
The law firm of Skadden, Arps, Slate, Meagher & Flom LLP & Affiliates pre-leased about 165,000 square feet in the proposed office tower at 155 N. Wacker Drive in downtown Chicago.
The law firm will occupy six floors in the 46-story, 1.1 million-square-foot building, which will sit at the southeast corner of Wacker Drive and Randolph St.
SUBSIDIZED REHAB FIRST TEST OF CITY’S TECH ZONE POLICY
By: Barbara Rose July 17, 1999
Steven Levin is poised to develop one of Chicago’s hottest technology addresses at 247 S. State St. — or become a landlord with a lot of expensively wired empty space.
His speculative, $36-million transformation of the former Lytton Building into a hip haven for growing technology companies is scheduled to begin this month. The city-backed project is the first of an anticipated handful of…