CHICAGO, MONTREAL—After a record year for office sales, 2016 isstarting off with a bang. Ivanhoé Cambridgeand its partner, Callahan Capital Properties,announced yesterday that their $198 million acquisition of 180 N.LaSalle St. in downtown Chicago, first reported on last summer, hadbeen completed.
The Montreal-based Ivanhoé is part of a lengthening line of foreign investors that see topChicago office properties as solid, long-term investments. Theinfusion of foreign capital helped drive many of lastyear's sales, including that ofOne11 West Illinois, bought by a German firm. Other big officetransactions in 2015 included: 233 N. Michigan Avenue for $196million; the Aon Center for $712 million and 333 W. Wacker Dr. for$320.5 million.
"Chicago is a key city in our strategy to grow our US officeplatform with Callahan Capital Properties and 180 N. LaSalle is animportant addition to our portfolio," says ArthurLloyd, executive vice president, office, North America, atIvanhoé Cambridge.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
