Despite its age, the 12-story building less than a block north of the Board of Trade is considered a class A office asset. Asking net lease rates are $18 per sf, according to Black's Guide, and vacancy was 20%. David Noyes & Co., U.S. Bancorp, the GSA are among the office tenants, while Brooks Brothers occupies ground-floor retail space.

The Rookery is Broadway Real Estate Partners' second Downtown acquisition in less than a year. Last summer, it paid $79 million for the 512,354-sf 300 S. Wacker Dr. building, according to documents on file at the Cook County Recorder of Deeds office. Although the most recent price is not being disclosed, MB Real Estate's most recent office market report pegs the deal at $60 million, or $213 per sf.

Designed by Daniel Burnham and John Root, early Rookery renovations were drawn up by Frank Lloyd Wright and William Drummond. The building is a National Historic Landmark as well as on the city's list.