High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Chicago & Midwest  + Illinois  + Office  | 

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

Connect

Inside The Story

Connect With Beacon Capital PartnersConnect With JLL’s Felsenthal

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition