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Chicago Commercial Real Estate

ABOUT THAT BIG NEWS

We interrupt this Multifamily Monday to make sure you heard the news that Hines sold 300 N. LaSalle to SoCal-based investment firm KBS Realty Advisors for $625M, according to Crain's Chicagoand others. That's  $480/SF for the 1.3M SF, 60-story tower. As details come in (news-speak for nobody's talking just yet), we'll have more. Last year, JLL's Bill Rogers told us 300 N. LaSalle would be an indicator on sale prices for the rest of the market. Considering this price is a record PSF  in Chicago, we're sure many owners are hoping he was right.

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