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$176M Sale, Financing of Chicago’s Sullivan Center Office Tower
New York-based 601W Companies acquired the 833,000-square-foot office component of Sullivan Center, an iconic commercial complex in Chicago’s Loop, from KKR and Madison Capital. The $176-million sale and financing transaction was handled by JLL’s Capital Markets group.
The 97%-leased asset offers creative office space, featuring high lofted ceilings and large floor plates ranging from more than 100,000 square feet on the lower levels to between 22,000 and 79,000 square feet on the upper levels.
Originally constructed in 1899 as a department store, Sullivan Center has been a national historic landmark since 1970. Its upper floors were converted to office space in the early 2000s. Between 2001 and 2012, the property underwent more than $200 million in modernization and historical restoration work.
JLL’s Bruce Miller and Nooshin Felsenthal led the sale, while JLL’s Keith Largay handled the financing. The lender was Brookfield Asset Management.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition