HFF has closed the sale of and arranged financing for 900 North Franklin and 224 North Des Plaines, two office properties totaling 164,000 square feet in Chicago, Illinois.
The firm marketed the properties on behalf of the seller, R2 Companies and the Alternative Investments & Manager Selection (AIMS) Real Estate Group, a business unit within Goldman Sachs Asset Management, and procured the buyer, Shopoff Realty Investments.
Originally built in 1920, 900 North Franklin features 87,271 square feet of creative loft space featuring exposed high ceilings, open floor plans, concrete columns, an abundance of natural light and a newly-renovated lobby. The property is situated in the River North submarket of Chicago in the epicenter of Chicago’s tech community.
224 North Des Plaines, built in 1910, features 76,729 square feet of brick and timber, creative loft office space. Located in the West Loop submarket, the six-story property is within walking distance of Ogilvie, Union Station, two EL lines and Randolph Street, which features numerous dining and nightlife options.
The HFF investment sales team representing the seller was led by senior managing directors Jaime Fink, Jeff Bramson and Mark Katz. HFF’s debt placement team representing the borrower was led by director Trent Niederberger.
