CHICAGO, IL – Spear Street Capital has acquired 225 West Wacker Drive in Chicago from seller, Mirae Asset Global Investments, in a $210 million transaction.
The final sale price for the asset equaled more than $322 per square foot.
The 650,812-square-foot, class-A office tower is home to Cushman & Wakefield's headquarters.
Designed in collaboration between Kohn Pederson Fox and Perkins+Will, the 31-story office building is located along the riverfront, on south bank of the Chicago River. Situated in close proximity to the River North neighborhood, the property offers direct accessibility to the city's public transit and infrastructure system.
The seller was represented by the Cushman & Wakefield team of David Knapp, Adam Spies, Marcella Fasulo, Tom Sitz, Cody Hundertmark, Paul Lundstedt and Dan Deuter. The real estate services firm additionally arranged the sale.
Cushman & Wakefield serves as one of the largest real estate services firms with 53,000 employees operating from 400 offices throughout 60 countries. The company's 2019 revenue totaled $8.8 billion across core services.
225 West Wacker Drive, Chicago. Photo by Spear Street Capital.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
