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601W Snares Northern Trust’s South Loop Offices
JLL Capital Markets closed the $68-million sale of 801 Canal St., a five-story, 591,577-square-foot office building in the expanding South Loop submarket, to 601W Cos.
A JLL team of Jaime Fink, Bruce Miller, Jeff Bramson, Patrick Shields and Sam DiFrancesca represented the seller, Canal / Taylor Venture, led by investor Paul Gearen, and procured the buyer.
Also known as Canal Center, 801 Canal is fully occupied by the Northern Trust Company through August 2020. In addition to the office building, the offering also included a 1.3-acre development site situated directly south of the property.
“With an influx of nearly $11 billion of recent and ongoing capital projects surrounding Canal Center, the South West corner of Chicago’s CBD market has evolved into a major focal point within the city,” Fink said.
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- ◦Sale/Acquisition
