549 W. Randolph St., Chicago. Credit: CoStar Group 549 W. Randolph St., Chicago. Credit: CoStar Group

CHICAGO—The nearly 124,000-square-foot office building at 549 W. Randolph St. has been acquired by a joint venture that includes MB Real Estate executives Kevin Purcell and Peter Westmeyer, Hilco Redevelopment Partners and Origin Investments.

The new ownership did not disclose the purchase price for the property. Crain’s Chicago Business stated earlier this year when the deal was in negotiations that the MB Real Estate-led joint venture was acquiring the 123,835-square-foot loft office building for $36 million. MB Real Estate will provide leasing and asset management services at the seven-story building.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.