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Echo Real Estate Trades AT&T-Leased Offices
Echo Real Estate Capital has sold a Chicago office building leased to AT&T for $16,275,000. The 94,000 square foot building is located at 2401 West Grace in the North Side’s Horner Park neighborhood and is 100% occupied by AT&T.
“This was a great deal for us and a nice one to close before the end of the year,” said Echo Real Estate Capital principal Jon Boyajian. “When we bought the building, our plan was to either extend AT&T’s lease or redevelop the property if they vacated. We loved the neighborhood and location, so we were comfortable either way.”
The property is currently zoned to allow for up to 200,000 square feet of buildable area.
Echo’s capital partners on the deal included First Midwest Bank and T2 Capital Management. The buyer was an international investor.
- ◦Sale/Acquisition
