CHICAGO-Metzler North America, headquartered in Seattle, hasacquired the historic Rookery building, at 209 S. LaSalle St.Broadway Real Estate Partners, headquartered in New York City, soldthe property for about $73 million, confirmed Jeb Bradford,managing director of Metzler North America, which is an affiliateof Bankhaus Metzler.

Michael Vesper, with CB Richard Ellis, represented BroadwayPartners in the transaction. A cap rate was not disclosed. The286,000-sf building was acquired on behalf of “a private Germanfamily who is looking for generational-type assets in largesuburban regions of the United States,” Bradford says. “Thehistorical nature of the building really appealed to thefamily.”

The 12-story building was constructed in 1885 and designed byDaniel Burnham and John Root. The interior was remodeled in 1905,with designs by Frank Lloyd Wright. The building is a NationalHistoric Landmark as well as on the city's historic buildings list.The Rookery is currently 97% leased. While the property is in theheart of the city's traditional financial district, the buildingdraws a variety of types of tenants. Notable tenants include USBank, commodities-based trading firm Interactive Brokers group,Brooks Brothers, Tabet Divito, architectural firm TVS and theNational Labor Relations Board and the Department of Justice, bothwith the US General Services Administration.