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Intersection Realty Nabs Boutique Offices in Downtown Chicago
JLL Capital Markets closed the $19.25-million sale of the 222,728-rentable-square-foot 65 E. Wacker Pl., a 1920s-vintage, boutique, mixed-use, retail and office building in downtown Chicago. JLL represented the seller, a New York-based investment firm, and procured the buyer, Intersection Realty Group.
Built in 1928, the 24-story building is recognized by the National Register of Historic Places and is currently 46% leased. In-place tenancy is anchored by Morton’s Steakhouse, which occupies floors one and two of the building. With plans to convert a portion of the property to apartments, Intersection Realty Group will maintain the building’s commercial presence, inclusive of both retail and office space.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by senior directors Sam DiFrancesca and Patrick Shields and senior managing directors Jaime Fink and Bruce Miller
- ◦Sale/Acquisition