Jordan Menashe Of Menashe Properties Acquires Office Tower At 125 South Wacker Drive For $50M

The property asset involved in this transaction is an office tower located at 125 South Wacker Drive in Chicago. The asset comprises a total square footage of 577,000 and is being purchased for $50,000,000, resulting in a price per square foot of $87. The seller, La Caisse, acquired the property in 2017 for $145,000,000, marking a significant loss in this deal.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $50,000,000
• Square Footage: 577,000
• Address: 125 South Wacker Drive
• Market: Chicago
• Buyer: Jordan Menashe - Menashe Properties
• Seller: La Caisse
• Price per Square Foot: $87

Key individuals involved in the transaction include the buyer, Jordan Menashe, who represents Menashe Properties. The seller is La Caisse, known for its previous acquisition of the asset at a higher price point. This transaction follows Menashe's prior purchase of another property at 230 W. Monroe for $45,000,000.