BY THE NUMBERS
CHICAGO—The city's CBD has been the site of a number of major office sales in the past five years. And in terms of investor gains some of these trades compare quite favorably with deals in Manhattan and other coastal cities. According to COMMERCIALCafe.com, two Chicago towers made it onto their Top 15 Office Resale Gains list. Using data from Yardi Matrix, focused on buildings that changed hands between 2012-2017 that had been held for up to 3 years. It excluded properties that were completely renovated, part of a portfolio or a minority stake transaction and unrecorded sales. One South Wacker barely misses the Top 10, landing at #11. Its most recent sale in 2015 bought a $116 million gain for Harbor Group International and Clal Group. And the 2013 sale of 200 South Wacker Drive tallied up a $98 million gain to its previous owners, putting the building at #15. Seattle's Russell Investments Center is #1 on the list. It was bought for $115 million in 2009, and then sold in 2012 for $480 million.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
