"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.

Cape Horn Group purchased the building in April 2006, when it was 94% occupied with leases. Since then, the company has been letting leases expire and selling the space off. About 50% of the building has been sold to various companies, 20% of the building is vacant with sales in progress, and the other 30% of the space remains leased, DeAngulo says.

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