Timothy L. Killeen Of The University Of Illinois Acquires Office Building From UBS For $23.8M

The transaction involves the sale of an office asset located at 250 South Wacker Drive, Chicago. The property was sold for $23,800,000 and consists of 244,954 square feet. The building has been largely vacant since 2024 and is 16 stories tall.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $23,800,000
• Square Footage: 244,954
• Address: 250 South Wacker Drive
• Market: Chicago
• Buyer: Timothy L. Killeen - The University of Illinois
• Seller: UBS
• Seller's Representatives: David Knapp & Maurycy Filecki - CBRE
• Price Per Square Foot: $97

This transaction marks a significant development for The University of Illinois, as the board approved the acquisition to facilitate the expansion of the Discovery Partners Institute. An additional budget of $36.3 million has been allocated for renovations, reflecting a strategic shift from previous development plans in the South Loop area.