Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO-The American Lung Association of Illinois-Greater Chicago has acquired 7,135 sf on the eighth floor of the 15-story building at 55 W. Wacker. The price was not disclosed; however a full floor of the building, 14,250 sf, was recently acquired by two law firms for $3.6 million. The Chicago law firms of O’Rourke & Moody and Touhy, Touhy, Buehler & Williams teamed up to acquire the 14th floor, as reported last month by GlobeSt.com.

Matt Ochalski, owner and founder of GD Realty, represented the ALA in the sales transaction. Russ Cora, with Cape Horn Group, represented the building owner. The non-profit organization is relocating its headquarters to the space and consolidating leased space at 150 N. Wacker Dr. and an office condo at One Trans Am Plaza, Oakbrook Terrace, IL, says Juan DeAngulo, regional manager for building owner Cape Horn Group. The organization was attracted to the downtown location and column-free floor plates. “Historically, they have not been able to own in Downtown but need to maintain a Downtown presence,” DeAngulo says.

The ALA will occupy the northeast corner of the building which has river-bend views, he says. The organization is expected to move into the space by the end of the month.

The building has been vertically subdivided and the floors are being sold in a way similar to office condominiums. Nearly 50,000 sf in the 209,000-sf building has been sold since last September, marketing started for the sales. Buyers have included a financial institution, an entrepreneur who distributes diesel engines and an investor. The building was constructed in 1968 and renovated in 1987. An affiliate of Cape Horn acquired the building, in 2006, for $36 million, sources say. Cape Horn has renovated the common areas and upgraded the elevators security system and heating, ventilation and air conditioning system.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


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 © 2020 ALM Media Properties, LLC. All Rights Reserved.