Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Chicago & Midwest  + Illinois  + Office  | 

Helmut-Jahn Building to Sell for $30M

A Helmut Jahn-designed building in Evanston, IL is under contract for $30 million. The amount is three times more than seller Farbman Group and Lubert-Adler Partners paid in 2014 to get the 155,652-square-foot office building at 1001 Church St. out of distress. The buyer is F.D. Stonewater.

Southfield, MI-based Farbman and Lubert-Adler from Philadelphia acquired the building’s defaulted loan a little more than two years ago for $9.6 million, representing less than half the loan’s $20.5 million. During their hold, the owners upgraded the lobbies and common areas, and leased large blocks of vacant space. When acquired from distress, the office building was 49% vacant. When the deal closes, FD Stonewater will buy an 80% occupied asset.

For comments, questions or concerns, please contact Amy Sorter


Inside The Story

Read More at Crain's Chicago BusinessConnect With FarbmanConnect with Lubert-Adler

About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

Step 1: Select Education