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Beacon Capital Claims Chicago East Loop Trophy Tower for $182M
An affiliate of Beacon Capital Partners acquired 303 East Wacker, an 944,000-square-foot riverfront office tower in Chicago’s popular East Loop submarket for $182 million. The property was held by a venture of Wakefield, MA-based Franklin Street Properties.
Built in 1980, the 30-story tower has two penthouse levels and expansive, floor-to-ceiling window lines offering abundant natural light and unobstructed 360-degree views of the Chicago River, Lake Michigan and the city skyline. The building offers 30,000-square-foot floorplates and 11-and-a-half-foot slab-to-slab ceiling heights.
JLL Capital Markets’ Bruce Miller and Nooshin Felsenthal handled the deal on behalf of the seller. JLL’s Keith Largay and Heather Brown arranged acquisition financing for the buyer.
Felsenthal says, “The combination of a dynamic and diverse rent roll of high tech, creative and engineering tenants with the ability to capitalize on tightening market fundamentals in the East Loop was attractive to potential buyers.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition