Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
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.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
Get Chicago News in 150 Words