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John Buck Sells 311 W. Monroe to VEF Fund

CHICAGO-The Atlanta-based affiliate of Apollo Real Estate Advisors pays $43 million, or $110 per sf, for the 36-year-old West Loop building 69% occupied by Harris Bank.

By Mark Ruda | Updated on November 03, 2005

(To read more on the debt and equity markets, click here.)

CHICAGO-VEF Advisors, LLC has paid $43 million for 311 W. Monroe St., a 14-story West Loop office building 69% occupied by Harris Bank. The Atlanta-based affiliate of Apollo Real Estate Advisors LP paid $110 per sf for the 36-year-old asset formerly owned by John Buck Co.’s Acquisition & Development Fund I, LP.

Recent upgrades to the 390,000-sf property include three electrical substations and back-up generators. John Buck Co. has been asking $23.50 per sf for 110,704 sf, or 31% of the building.

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