Marcus & Millichap announced the sale of a five-story, 40,000-square foot, timber loft office property located in the River North neighborhood of Chicago, IL, according to John M. Przybyla, regional manager of the firm’s Chicago Downtown office. The asset sold for $8,100,000.
Stephen Lieberman, a Senior Associate in Marcus & Millichap’s Chicago Downtown office, had the exclusive listing to market the property on behalf of the seller. The purchaser was a group of private investors based in New Jersey. “River North loft office buildings have proven to attract national buyer demand given the neighborhood’s outstanding office occupancy trends and status as a key destination for tech and creative industry firms,” said Lieberman.
The property is located at 153-157 West Ohio Street in CHICAGO, IL. This Class-B loft office property is located near the intersection of LaSalle Street and Ohio Street. The open floor plates provide for easy open office design to meet today’s tenant requirements on space utilization efficiencies. The property has been extensively renovated over the past ten years and functions as a modern loft office building.
