M&J Wilkow Acquires 20 S. Clark St.

The acquisition of 20 S. Clark St. (also known as Two First National Plaza) by 20 South Clark Street, LLC, a limited liability company owned by affiliates of M & J Wilkow and the National Electrical Benefit Fund (NEBF) of Washington D.C., was announced by M & J Wilkow Ltd., which will manage and lease the property. Acquired on Aug. 17, 20 S. Clark brings the number of holdings in the M & J Wilkow portfolio to 61, with a total of over eight million sf. A spokesperson for M & J Wilkow told GlobeSt.com that the seller was a client of Lend Lease Investments Inc., which was represented by the Chicago office of Cushman & Wakefield Inc.

The 20 S. Clark St. property is a 30-story, 356,404-sf multi-tenant office building. At the time of the acquisition, the property was 91% occupied by 25 tenants. Major tenants include Bank One, the investment-banking firm Houlihan Lokey Howard & Zukin, as well as the law firm Ogeltree, Deakins. Significant improvements are planned for the building, including elevator modernization, lobby renovations and technological upgrades.

“The opportunity to expand our portfolio within Chicago is very exciting,” says Martin J. Sweeney, vice president, M & J Wilkow, Ltd. “We remain bullish on Chicago’s CBD and believe that the residential and cultural renaissance occurring downtown will help propel the office market for the next several years. The young and educated now prefer to live and play downtown and with today’s tight labor markets, employers need to be close to their workforce. Consequently, we will continue to see firms relocating from the suburbs to the city’s core. 20 S. Clark St., with its central location, efficient layouts and planned enhancements, will be well positioned to compete in this dynamic market.”