Craig Golden Of Blue Star Properties Acquires Note On Chicago Office Building From Wells Fargo For $14M

The asset involved in this transaction is a note/loan concerning the property located at 328 South Jefferson Street in Chicago. The sale price for the transaction was $14,000,000, and the property encompasses 293,037 square feet, leading to a price per square foot of approximately $48.

Summary of transaction details:

• Property Type: Note / Loan
• Transaction Amount: $14,000,000
• Buyer: Craig Golden - Blue Star Properties
• Seller: Wells Fargo
• Lender: Old Second National Bank
• Square Footage: 293,037
• Price per Square Foot: $48

This transaction involved Craig Golden representing Blue Star Properties in the acquisition of the mortgage on the property, effectively recapitalizing the asset amid a distressed downtown office market. The buyout allows Blue Star to pursue new leasing opportunities after a period of stalled activity, reflecting prevailing market conditions in Chicago.