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Chicago & Midwest  + Office  | 

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

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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