Sanjay Gandhi Purchases Office Building At 29 North Wacker Drive From Tom Wilson For $11M

The asset involved in this transaction is an office building located at 29 North Wacker Drive in Chicago. The property encompasses 133,600 square feet and was sold for $11,000,000, equating to a price per square foot of $82. This sale reflects significant market challenges, as the seller incurred a 63% loss from its 2022 purchase price.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $11,000,000
• Square Footage: 133,600 SF
• Address: 29 North Wacker Drive
• Market: Chicago
• Price Per Square Foot: $82
• Buyer: Sanjay Gandhi
• Seller: Tom Wilson - Allstate Corporation
• Broker Representatives: Alissa Adler & John Homsher - Colliers

This transaction involved notable key figures including Sanjay Gandhi as the buyer and Tom Wilson representing Allstate Corporation as the seller. The brokerage firm Colliers was represented by Alissa Adler and John Homsher in this deal, facilitating the transaction amidst rising vacancies and declining property values in the Chicago office market.