CHICAGO—A partnership between Kohlberg Kravis Roberts & Co. LP and Madison Capital has brought on a team of experts from JLL's capital markets group to market the office component of their Sullivan Center, an 833,000-square-foot trophy asset located in the heart of Chicago's Loop along the State St. retail corridor.

Formerly known as the Carson, Pirie, Scott and Co. Building, it hosted the iconic department store for generations, but was transformed over the past decade into a creative office space. And the Louis Sullivan-designed building is one of the few creative office spaces that has won a spot on the National Register of Historic Places.

The offering presents a chance for the CBD to record the type of mega-sale that had become almost common in 2015, a record-breaking year for office investment. More than $6 billion in CBD office properties traded hands that year, including prominent structures like Willis Tower and the Aon Center, breaking the previous record of $5.3 billion set in 2006. In 2016, the CBD office market reverted to the 20-year historical average when investors spent about $2.6 billion.