CHICAGO-Wilton US Commercial Inc. has made its first acquisition, a 1920s-vintage office building located at 65 E. Wacker Place, and it has plans to make at least two more acquisitions this year.
The private REIT, funded by money from private Irish investors, bought the 220,000-square-foot office building from Private Bank for an undisclosed price. Local sources estimate the 24-story, boutique building traded for roughly $16 million.
The deal represents the culmination of the company’s two-and-a-half year search for a value-added property in the Chicago area. The REIT is advised by US Equities Realty LLC and two Irish firms, Wilton Capital Real Estate and Finnegan Menton Real Estate.
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