Midwest

NAPERVILLE, ILL. — Beacon Investment Properties LLC has entered the Chicago market with the $24 million acquisition of Park Plaza, a 210,774-square-foot office building in Naperville. A Boston-based institutional real estate advisor sold the Class B+ office building. Park Plaza, located at 215 Shuman St., is a four-story building with 52,450-square-foot floor plates divided into 25,225-square-foot wings. Travelers Insurance Co. anchors the property, while Transguard Insurance Co. and Medical Staffing Network are among the larger tenants. Dan Deuter, senior vice president and Paul Lundstedt, executive vice president at CBRE, represented the seller. Susan Hill, senior managing partner at HFF’s Houston office, arranged an $18 million, 10-year mortgage loan through Cantor Commercial Real Estate of Houston.

CHICAGO — CBRE Strategic Partners U.S. Value 6, a fund sponsored by CBRE Global Investors, has acquired 181 W. Madison, a 50-story, Class A, 953,000-square-foot tower in downtown Chicago. Colliers International reported earlier this year that the property was under contract and that CBRE would pay about $300 million, or $319.15 per-square-foot, to GE Capital, the owner. The property, which is 83 percent leased to tenants with limited rollover, is located within three blocks of two major public transportation hubs — Ogilvie Transportation Center and Union Station. Constructed in 1990, the property features a five-story main lobby and Energy Star designation. The new owner plans to start a capital campaign and make enhancements, such as cosmetic improvements to building common areas, elevator modernization, an upgrade to building systems, replacing portions of the roof and obtaining LEED certification. The transaction was sourced off-market through Eastdil, which represented the seller.