KIG Brokers $86M Portfolio Sale of Office Buildings, Land Sites in Downtown Chicago
CHICAGO — KIG has brokered an $86 million portfolio sale of six vintage office buildings and three land sites in downtown Chicago. R2 Cos. purchased the properties, located throughout the West Loop, Greektown, River North and Printers Row. Built between 1883 and 1904, the properties are collectively 90.8 percent occupied, with an average of 3.9 years remaining on existing leases.
The properties included the Pontiac Building; 118 S. Clinton St.; 130 S. Jefferson St.; 901 W. Jackson Blvd.; 641 W. Lake St. and 445 W. Erie St.
The land sites included are Randolph/Desplaines, 708 W. Wayman St. and Peoria/Green. Susan Tjarksen of KIG represented the seller, Chicago-based Loft Development Corp.