Equus Sells 200 S. Michigan for $69M

CHICAGO—Equus Capital Partners, Ltd., a private equity real estate fund manager, has just completed the sale of 200 S. Michigan Ave., a 357,777-square-foot office tower, for $69,000,000 or nearly $193-per-square-foot. At the time of the sale, the building, once known as the Borg-Warner Building, was 89% occupied.

“We were very pleased with the level of investor interest for 200 S. Michigan Ave.,” says Joseph Neverauskas, senior vice president and head of Equus’ Chicago regional office. “The building’s high quality renovated condition, prime location on Michigan Ave. across from the Art Institute and Millennium Park and high caliber tenancy resulted in strong investor demand that exceeded our expectations.”