RDG Funds LLC (RDG) announced the acquisition of 156 N. Jefferson Street, a historic timber and beam loft office building in Chicago’s rapidly growing West Loop neighborhood.
The property, located two blocks from the Ogilvie Transportation Center and the Clinton Green and Pink Line L station, is conveniently located near restaurants, highway access and entertainment, all along the westward path of new development. RDG, a private equity real estate firm based in Chicago, IL, plans to redevelop and restore the 37,172 square foot vacant building for office usage.
“The addition of Google’s office and McDonald’s headquarters continues to pull the core of Chicago’s business community west of the river,” said Joe Chang, a partner at RDG. “We are thrilled to be long-term owners in this area, which will only benefit from continued development and capital investment.”
The transaction was facilitated by John Livaditis, Chad Schroedl, Drew Dillion and Scott Maesel of SVN Chicago Commercial. The purchase price was not disclosed.