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Coastal Partners Buys Chicago Office Building for $17M
Coastal Partners, a Chicago-based real estate firm focused on acquiring and developing office and industrial properties, purchased the office building located at 213 West Institute Place in the River North neighborhood for $17 million.
The deal marks a significant gulf from the building’s sale price back several years ago. The seven-story building was sold by California real estate firm KBS Growth & Income REIT for $43.5 million in 2017, reported Crain’s, citing CoStar as a source.
Cushman & Wakefield’s Tom Sitz and Cody Hundertmark marketed 213 W. Institute for KBS Growth & Income REIT. Coastal Partners owns an array of real estate assets across the country, including properties in California, Illinois, Indiana, Ohio, Tennessee and South Carolina. KBS Growth & Income REIT is separate from the KBS unit that owns the 40-story Accenture Tower at 500 W. Madison Street.
Image: Coastal Partners
