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Chicago & Midwest  + North Side  + Office  | 

Office Lofts Trade in River North for $3.8M

A loft office property at 314 W. Institute Pl. in Chicago’s River North neighborhood has sold to locally-based Elmdale Partners. The 22,424-square-foot building traded for $3.8 million.

CBRE’s Keely Polczynski represented 314 W. Institute’s ownership. Elmdale’s new acquisition could be revamped into a free and open environment popular with tech firms, who favor River North, currently Chicago’s tightest office market. In 2017, the submarket’s share of Chicago’s tech leases was more than double that of 2014.

“This was an amazing opportunity to own a quality asset in Chicago’s hottest office market,” said Polczynski. “The new owners will be able to strategically reposition the property and take advantage of the incredible market demand in River North.”


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition