Bear, Zonta Buy Office Condos at 55 W. Wacker

CHICAGO-Two businesses have grabbed up more than 12,000 sf of space at 55 W. Wacker in the city’s Central Loop. Zonta International Foundation, a women’s advocacy organization, bought 7,116 sf on the building’s eighth floor for around $2 million, says Juan DeAngulo, regional manager for Cape Horn Group, the building’s owner. Bear Necessities Pediatric Cancer Foundation purchased 5,113 sf of office space on the building’s 11th floor for around $1.4 million, DeAngulo says.

“The opportunity to own and secure a stable location in a prime spot downtown on the river was very appealing to their organizations,” DeAngulo tells GlobeSt.com. “These are nonprofit organizations that feel where they’re located makes a statement for them. They saw the opportunity to own and get more value by owning their space.”

Bear will relocate its national headquarters from space it leased at 23 W. Hubbard Street in the River North area. DeAngulo represented Cape Horn in the transaction. Zonta will move its global headquarters to the building from space it previously owned at 557 W. Randolph St. in the West Loop. Charles Saul and Wallace Kruce of L.J. Sheridan & Co. represented Zonta, while Cape Horn Group’s Larry Cohn represented the seller.