SKOKIE, IL-TA Associates Realty LLC has sold its office building measuring 209,625 square feet at 5215 Old Orchard Road in Skokie to Millbrook Real Estate Co. for $24.7 million or roughly $118 per square foot. CBRE Inc. negotiated the sale. Millbrook has plans for cosmetic and structural renovations on the 12-floor tower. The company will be the manager of the building and will rope in Newmark Grubb Knight Frank to handle leasing duties.
The Skokie tower has a vacancy rate of 25%. For the full story, go to Crain's Chicago Business .
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