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Next up for bid from Leslie Hindman Auctioneers: its offices. The iconic Chicago auctioneer, known for its record-setting fine art auctions, hired CBRE to seek buyers for its West Loop HQ.
The two connected buildings at 1332 and 1338 West Lake St total 37k SF. With prices in the market rising at rapid rates and development popping up all around, bids for the property could reach $15M, Crain's reports. That would be a major ROI for Hindman, which paid a combined $3.9M for the two buildings.
Proceeds from a sale would go to develop a new HQ across the street at 224 North Ada. CBRE is marketing the property as a redevelopment play, which would require a zoning change. [Crain's]
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