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CBOT Building Lands $256M Refi
Oaktree Capital Management and GlenStar Properties secured a $256-million refinancing for their 141 W. Jackson, a two-tower property known as the Chicago Board of Trade Building (CBOT). JLL Capital Markets’ Christopher Carroll and Lucas Borges arranged the debt through a domestic financial institution.
The landmark West Loop office complex’s current ownership has successfully instituted a spec suite program along with several amenities, and plans to allocate a portion of the loan proceeds toward future leasing.
“It’s been an absolute privilege to work with the GlenStar and Oaktree team on this special property in Chicago,” said Carroll. “While the remarkable history of this building is well known, the real story here is a next generation icon resulting from the transformative renovations ownership has made.”
Borges added, “Positioned in the path of growth, CBOT is poised to capitalize on increased tenant demand as mega-developments redefine the surrounding area.”
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
