Two Monroe Street High-Rises to Change Hands for $169M

CHICAGO-Two neighboring high-rises on Monroe Street in the Loop are changing hands for $169 million. The General Electric Pension Trust has reached a contract to sell the 623,524-square-foot tower at 230 W. Monroe to a joint venture between Newport Beach, California-based PIMCO and Dallas-based Lincoln Property for $93.5 million.

GE Pension Trust is also marketing most of the 649,265-square-foot building at 200 W. Monroe to Philadelphia-based Lubert-Adler Funds and Southfield, Mich.-based Farbman Group. The venture will buy the 535,911-square-foot property for approximately $75 million. For the full story, go to Crain’s Chicago Business .