Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Angelo, Gordon & Co. Snags Presidents Plaza in Chicago for $147M
Angelo, Gordon & Co. acquired Presidents Plaza, a pair of Class A office buildings in Chicago’s O’Hare submarket for $147 million. The seller was a partnership between Chicago’s GlenStar Properties, LLC and an undisclosed global real estate investment manager.
Located at 8600 and 8700 W. Bryn Mawr Ave., the 92.4%-leased assets were developed in 1980 and total 834,893 square feet. The high caliber tenant roster includes institutional-quality and investment-grade firms. The property, which is LEED Silver and EnergyStar certified, has been institutionally maintained and has received more than $15 million in capital renovations since 2016.
Angelo, Gordon & Co.’s Scott Glassberg says, “Presidents Plaza is ideally located in O’Hare, which has emerged as Chicago’s strongest suburban submarket due to its direct access to downtown mass-transit and convenient drive times to the city’s residential neighborhoods.”
JLL’s James Postweiler and Peter Harwood led the team handling the transaction.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition