Kiser Group, Chicago’s leading mid-market commercial real estate brokerage firm, brokered the sale of the Germania Club Building, a historic 40,634-square-foot mixed-use building at 108 W. Germania Place in Chicago’s Gold Coast neighborhood. The property fetched a $7.89 million sale price.
Designed in 1888 by architectural firm Addison & Fielder for prominent members of Chicago’s German-American community, the building has become one of the North Side’s most recognizable properties. Listed on the National Register of Historic Places, the Germania Club Building features two grand ballrooms with 50′ ceilings that serve to host corporate, civic and private events, as well as a mix of retail and office tenants including Starbucks, T-Mobile and Lincoln Park Preparatory. The property is 100 percent leased.
“This was an amazing chance to purchase not only a piece of Chicago history, but also a fully stabilized investment property in one of Chicago’s best neighborhoods,” said Bill Baumann, senior managing director for Kiser Group, who brokered the transaction. “The asset is very well-maintained and boasts a mix of stable, long-term tenants. This is only the third time this property has come to market in its storied history, making it a very unique opportunity.”
Located near the intersection of Clark Street and North Avenue and directly across from the Latin School and Chicago History Museum, the Germania Club Building is one of the city’s architectural gems, said Baumann. It was designated a Chicago landmark in 2011.
The ballrooms reflect ornate Victorian architecture, with inset gold domes, original chandeliers and 20′ arched-windows.
“Space like this simply isn’t designed anymore,” said Baumann. “The Germania Club has been a staple of Chicago for more than a century and with its historic, old-world feel, it is sure to remain a top destination for some of the city’s premier special events for decades to come.”
