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Metzler Acquires 286,000-SF Rookery for $73M

CHICAGO-The historic Rookery building, at 209 S. LaSalle St., is being sold by Broadway Real Estate Partners LLC, which bought it last year for $56 million.

By Gina Kenny | Updated on October 25, 2007

CHICAGO-Metzler North America, headquartered in Seattle, has acquired the historic Rookery building, at 209 S. LaSalle St. Broadway Real Estate Partners, headquartered in New York City, sold the property for about $73 million, confirmed Jeb Bradford, managing director of Metzler North America, which is an affiliate of Bankhaus Metzler.

Michael Vesper, with CB Richard Ellis, represented Broadway Partners in the transaction. A cap rate was not disclosed. The 286,000-sf building was acquired on behalf of “a private German family who is looking for generational-type assets in large suburban regions of the United States,” Bradford says. “The historical nature of the building really appealed to the family.”

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