Fully Leased Germania Place Sells to Out-of-State Investor
Greenstone Partners arranged the sale of Germania Place at 108 W. Germania Pl., at the convergence of Chicago’s Lincoln Park, Old Town and Gold Coast neighborhoods. The firm’s Danny Spitz and Jason St. John represented seller R2 and procured the buyer, an out‐of‐state, private investor.
The fully leased 49,000-square-foot property, also known as the German Club Building, was completed in 1889 by renowned architect Addison & Fiedler and served as the focal point for Chicago’s German‐American community at the turn of the century. The anchor tenant, Lighthouse ArtSpace, is host to the critically acclaimed Immersive Van Gogh experience, which signed its lease during the pandemic.
“There are seldom opportunities of this nature in the marketplace, and we are seeing buyers that were not active last year getting back into the market in droves, furthered by historically low interest rates and hedging against potential inflation,” said St. John.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).