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NYC Investors Tee Up Two More Downtown Chicago Office Deals
Two more New York-based investors have teed up deals to acquire downtown Chicago office properties, Crain’s Chicago Business reported. In the larger of the two acquisitions, Foundation Capital Partners is under contract to pay nearly $180 million for the 26-story office building at 2 N. LaSalle St., according to sources.
In the other deal, Nightingale Properties is close to finalizing an agreement to pay about $132 million for the 29-story building at 200 W. Jackson Blvd., sources said. The buildings would be the first Chicago office properties for both firms, according to Real Capital Analytics.
The pending sales stand out as large wagers on the future of workspace in the Loop, which has seen vacancy surge during the COVID-19 crisis, reported Crain’s. They follow New York-based Opal Holdings’ pending $420-million deal for 35 W. Wacker Dr., which was reported earlier this month.
Pictured: 2 N. LaSalle, courtesy of Hearn.
- ◦Sale/Acquisition
