teamed up to acquire

Matt Ochalski, owner and founder of GD Realty, represented the ALA in the sales transaction. Russ Cora, with Cape Horn Group, represented the building owner. The non-profit organization is relocating its headquarters to the space and consolidating leased space at 150 N. Wacker Dr. and an office condo at One Trans Am Plaza, Oakbrook Terrace, IL, says Juan DeAngulo, regional manager for building owner Cape Horn Group. The organization was attracted to the downtown location and column-free floor plates. "Historically, they have not been able to own in Downtown but need to maintain a Downtown presence," DeAngulo says.

The ALA will occupy the northeast corner of the building which has river-bend views, he says. The organization is expected to move into the space by the end of the month.

The building has been vertically subdivided and the floors are being sold in a way similar to office condominiums. Nearly 50,000 sf in the 209,000-sf building has been sold since last September, marketing started for the sales. Buyers have included a financial institution, an entrepreneur who distributes diesel engines and an investor. The building was constructed in 1968 and renovated in 1987. An affiliate of Cape Horn acquired the building, in 2006, for $36 million, sources say. Cape Horn has renovated the common areas and upgraded the elevators security system and heating, ventilation and air conditioning system.