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Chicago Commercial Real Estate

Piedmont Takes 500 W Monroe

In its role a mezz lender, Piedmont Office Realty Trust has taken over the 46-story 500 W. Monroe building. The 969k SF property was on the verge of being auctioned off in Q3 2010.

 
Broadway Partners will still maintain an interest in the building, which has a 369k SF vacant block on the top floors. Piedmont is currently interviewing brokers to list that space. Broadway bought the building for $337M in 2007. Located near Union and Ogilvie Stations, the site is prime real estate for suburban commuters.

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