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Chicago & Midwest  + Downtown  + Office  | 

Historic Loop Office Tower and Grubhub HQ Up For Sale

Burnham Center, the iconic 22-story vintage Loop office tower and last building designed by famed Chicago architect and urban planner Daniel Burnham, is on the market.

The nearly 585,000-square-foot building is currently 65% occupied, and a venture led by Chicago-based Golub & Co. has hired Cushman & Wakefield to sell the building at 111 W. Washington Street. The venture bought the property for $80.3 million in 2019, just prior to the pandemic.

GrubHub is Burnham Center’s largest tenant, occupying 164,100 square feet, or about 28% of the building’s space. The food delivery service company recently announced it would lay off 400 workers and reduce its workforce by 15%.

The sale comes as Chicago’s downtown faces record high vacancy rate. However, Burnham Center’s close proximity to the Thompson Center, the soon-to-be home of Google, could help bolster the property’s value as the Loop and Chicago Business District look for an upswing in occupancy.  


Inside The Story

About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.

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