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2 N Riverside Plz

Updated Jul 22, 2025

Blue Star Properties And Wolcott Group Acquire Office Tower At 2 N. Riverside Plaza For $25M
SOLDOffice

Blue Star Properties And Wolcott Group Acquire Office Tower At 2 N. Riverside Plaza For $25M

2 N Riverside Plz

$25,000,000

$43/SF

Building Size

579,000 SF

Asset Type

Office

Closing

Jul 21, 2025

About this deal

AI

The property involved in this transaction is an office asset located at 2 North Riverside Plaza in Chicago. The asset encompasses a total square footage of 579,000 and was sold for a transaction amount of $25,000,000, resulting in a price per square foot of approximately $43.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $25,000,000
  • Sale Price: $25,000,000
  • Square Footage: 579,000
  • Address: 2 North Riverside Plz
  • Market: Chicago
  • Buyer: Craig Golden - Blue Star Properties; Andrew Goodman - The Wolcott Group
  • Seller: Voya Financial
  • Brokers: Bryan Rosenberg & David Caprile - Eastdil Secured
  • Price per Square Foot: $43

Craig Golden from Blue Star Properties and Andrew Goodman from The Wolcott Group are the buyers in this transaction. The property is set to undergo over $50 million in hospitality-focused upgrades as part of a strategy to reposition it, reflecting a trend in distressed downtown Chicago office sales. Bryan Rosenberg and David Caprile from Eastdil Secured represented the transaction on behalf of the sellers, Voya Financial.

On the Map

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$25,000,000

$43/SF

Office

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Players

Bryan Rosenberg

Eastdil Secured Savills

Broker

$944.7M

vol

9 deals

Broker
Eastdil Secured Savills
Eastdil Secured SavillsBrokerage
Craig Golden

Craig Golden

Blue Star Properties

Buyer

$103M

vol

3 deals

Buyer
Blue Star Properties
Blue Star PropertiesBuyer
Voya Financial
Voya FinancialSeller
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Chicago Office Market Snapshot

Boundary boundary · Office · Sale transactions

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Deal FAQ

About $43 per square foot on a published $25M for 579,000 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.63%

Cash-on-Cash

-0.18%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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