Chicago Office Market Off To A Blazing Start As 2 More Properties Change Hands

The transaction market for Chicago office properties is roaring back to life as the new year gets underway, with two more buildings reportedly changing hands in deals that include the largest downtown office property sale by square footage in nearly three years.

Namdar Realty Group and Mason Asset Management completed an $85M purchase of the 57-story office tower at 70 W. Madison St. on Dec. 30, the largest downtown office property sale by total leasable space in almost three years, CoStar reported. The tower, which totals more than than 1.4M SF, is the largest property to trade hands since a controlling stake in the nearly 1.6M SF Bank of America Tower sold in March 2022...