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Newmark Arranges Acquisition of 49K-SF Chicago Office Building
Newmark has arranged the acquisition of 405 West Superior Street, a 49,534-square-foot office building in Chicago, Illinois. The asset was acquired by the nonprofit Self-Help Ventures Fund for $5.3 million.
Newmark Executive Managing Director Mitchell Loveman and Associate Director Jimena Sayavedra facilitated the transaction on behalf of the buyer. “The acquisition of 405 West Superior Street reflects the demand for functional, well-located creative office spaces that can support mission-driven organizations like Self-Help Ventures Fund,” said Loveman.
Greenstone Partners’ Managing Partners Jason St. John and Danny Spitz exclusively represented the seller in the transaction. “We experienced a high level of buyer interest, receiving multiple offers from both local and national purchasers, including investors and owner-users,” said St. John.
The seven-story 405 West Superior Street includes 49,534 square feet of leasable area. Self-Help Ventures will utilize roughly one floor of the building, operating in partnership with Expansive, a flexible workspace operator, along with existing tenants.
