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Chicago & Midwest  + North Side  + Office  | 
Hines is under contract to acquire 1315 North Branch St. on Goose Island from R2

Hines Goes Under Contract for Goose Island Offices 

Hines is betting on Goose Island with a $47-million deal for a revamped office property, reported Crain’s Chicago Business. The Houston-based company is under contract to buy the 157,450-square-foot office building at 1315 North Branch St. from R2. 

The two-story brick building is fully leased to tenants that include CB2, Lakeshore Beverage, Elite Staffing and logistics firm Transportation One. It has more than seven years of average weighted lease term, Crain’s reported. 

The deal would mark R2’s second Chicago property sale to Hines in recent months, and Hines’ third North Side acquisition. Hines late last year paid more than $30 million for an R2-owned building at 2501 W. Bradley Pl., home to WGN-TV’s studio.  

That in turn followed another deal in which Hines paid close to $100 million for Bradley Business Center, a four-building, 467,000-square-foot office and industrial campus just north of the WGN property. 

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About Paul Bubny

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).

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