Loop Buildings Changing Hands

March 12, 2010

Daily Real Estate Updates

sudler-sothebys-logo12 March 2010
While the market for loop office buildings has been stagnant, the family that makes Jose Cuervo was expected to close yesterday on 303 W. Madison for more than $60. This will be the first sale of a downtown office building this year, and one of the first significant real estate investments made by a Mexican investor. Despite market conditions, multiple investors bid on the building, driving the price above initial projections.

Also hitting the market is the new skyscraper at 300 N. LaSale, which was completed early last year. The building is 95% leased, including law firm Kirkland and Ellis LLP, which occupies over 50% of the space, Boston Consulting Group, law firm Quarles and Brady LLP, and private equity firm GTCR Golder Rauner LLC. The building is expected to bring between $570 and $620 MM.

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About Stacy Braack

Stacy is a seasoned real estate professional with a broad range of hands-on experience including first time buyers, investors, luxury homes, and distressed properties. While this may appear to be a scattered set of expertise, she believes the experience provides maximum effectiveness in today's chaotic market, which requires extensive knowledge of all aspects of the industry. Stacy's educational background includes a BS in Industrial Engineering from Stanford University and an MBA in Marketing and Finance from the Kellogg Graduate School of Management. Professionally, Stacy has done everything from operations consulting to city government before she found her passion in real estate almost eleven years ago. It is this passion that drives the most benefit to her buyers and sellers. She is fully committed to your goals - both financial and personal. Her clients describe her as extremely direct, honest, and responsive, and they repeatedly trust her to handle one of the biggest events in their lives. For buyers she works non-stop to find you both a home you will love to live in and one that is a smart investment. Many of her 2008 buyers have realized instant equity in their new homes through 'pit bull' negotiation skills. While the market has been tough for sellers, her listings have sold at a rate above that of the market. Extensive, constant, and extremely high-quality marketing, including both print and internet mediums, support every listing, from investment studios to luxury penthouses. She believes that your goals are her priority and her full-time job. She has built her business on referrals from satisfied clients, and she would love to add you to that list. You can contact her at 773-405-4431 or stacy.braack@sothebysrealty.com

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