Investors looking for discounted properties have a new option in Chicago’s Loop, with two office towers coming to the market. Crain’s Chicago Business reported that the lender holding a $230-million mortgage backed by the 49-story office tower at 161 N. Clark St. plans to hire a broker to sell the loan, potentially allowing buyers of said loan control of property if its value is less than balance when it matures in late 2025. Additionally, Eastdil Secured has put up for sale and marketed 230 W Monroe St., owned by Accesso Partners who bought it for $122 million in 2014 and refinanced with an $87.7-million Morgan Stanley loan last year; sources close to financials estimate building worth near balance of said loan but no asking price listed yet. Investors now have two potential bargains available on sales market within Loop area of Chicago city limits – perfect opportunity for those seeking discounted properties!
“SL Green Divests 11% Share in One Vanderbilt for $4.7B”
SL Green Realty Corp. has sold an 11% stake in One Vanderbilt Ave. to Japan-based Mori Building Co., Ltd., bringing
Steve Griffin
November 22, 2024
