Cushman & Wakefield’s Chicago HQ Sells for $115M

Cushman & Wakefield advised Spear Street Capital on the $115 million sale of 225 W. Wacker Drive, an office tower in downtown Chicago, to Prime Finance and Hines.

Situated along the Chicago River at the intersection of Wacker Drive and Franklin Street, 225 W. Wacker is a 31-story, approximately 651,000-square-foot office tower located where Chicago’s West Loop and River North neighborhoods converge. Cushman & Wakefield will remain an anchor tenant under the building’s new ownership.

Cushman & Wakefield’s National Office Investment Advisory Group of Cody Hundertmark, Tom Sitz, Jeremiah Olsen and Kelsey Berry represented the seller, Spear Street Capital, in the transaction. The firm’s Equity, Debt and Structured Finance group, led by Jeff Altenau, also advised Prime Finance in sourcing acquisition financing. Cushman & Wakefield is expected to be retained to oversee 225 W. Wacker’s property management and agency leasing on behalf of Prime Finance.

“225 W. Wacker is one of the largest and highest quality office towers to trade hands in downtown Chicago since 2022 and represents continued proof that high-quality assets attract high-quality buyers,” said Sitz.