CBRE Capital Markets recently secured financing on behalf of Golub & Company for the refinance of 680 North Lake Shore Drive located in the Streeterville neighborhood of Chicago’s Central Business District. The transaction was led by Senior Vice President Pete Marino and Vice President William Howe of CBRE Chicago’s Capital Markets Debt & Structured Finance Team.
CBRE was engaged by Golub to refinance the commercial space at the property, which includes nearly 500,000 square feet of office and retail space and the accompanying public parking garage. The building also includes more than 400 privately owned condominium units with private parking that were not part of the financing.
The property is located in Chicago’s de facto downtown medical campus. With ground floor amenities, including a grocery store, hardware store, restaurant, coffee shop and other retailers as well as significant parking in the building, the property serves as an anchor for Streeterville and the surrounding community.
Golub & Company’s Principal, Michael Newman and Senior Vice President, Michael Goldman acted on behalf of the owner. Mr. Newman stated “we were extremely pleased with the reception by the lending community. Having owned the building for 25 years we understand its value which was confirmed by the interest from lenders”.