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Cushman & Wakefield Announces Sale of 225 W. Wacker in Chicago to Prime Finance and Hines
Yesterday, 2:28 PM·
Medium Neutral

Sources

Summarized by i88

Tickers

Summary

Cushman & Wakefield (NYSE: CWK) advised Spear Street Capital on the $115 million sale of 225 W. Wacker Drive, a 31-story, roughly 651,000-square-foot Class A office tower in downtown Chicago. The buyer is a venture of Prime Finance and Hines. The transaction marks a sizable Chicago office trade amid a soft downtown leasing market.

Cushman & Wakefield (NYSE: CWK) said it advised Spear Street Capital on the $115 million sale of 225 W. Wacker Drive, a Class A office tower in downtown Chicago, to Prime Finance and Hines.

Property Details

  • Location: Along the Chicago River at the intersection of Wacker Drive and Franklin Street in downtown Chicago.
  • Size: 31 stories, approximately 651,000 square feet.
  • Class: Class A office tower overlooking the Chicago River.

Transaction

Cushman & Wakefield, described in the announcement as a global real estate services firm, acted as advisor to the seller, Spear Street Capital. The buyer is Prime Finance and Hines. The sale price was $115 million.

The announcement did not disclose additional terms of the transaction, financing details or a closing date.

Market Context

The deal represents a sizable office trade in downtown Chicago. The source material did not include leasing or occupancy data for the property or further commentary on downtown market conditions.