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Greenstone Lists Value-Add Loop Offices for Sale
Greenstone Partners has been retained to advise on the sale of 73 W. Monroe St., a downtown Chicago office building. The 53,000-square-foot property is listed for $7,565,000. Managing partner Jason St. John and CEO and managing partner Danny Spitz are representing the seller.
“73 W. Monroe is an excellent value-add deal with tons of optionality and perfect for both investors and owner-users,” said St. John. “Its marquee address paired with its central Loop proximity to transportation, shopping, dining, hotels, entertainment, government offices and residential make it an exciting acquisition prospect.”
The property’s first floor includes one retail tenant, French fast-casual restaurant Pret A Manger, which is paying rent through 2026. The lower level, second, third, fourth, and fifth floors house a national co-working tenant, Expansive, that leases 34,000-plus square feet in total under a long-term, 10-year lease with 3% annual escalations.
- ◦Sale/Acquisition
