Igor Gabal Acquires 12-Story Chicago Office Building In Loop District For $4M

Igor Gabal has acquired a 12-story office building located at 300 West Adams Street in Chicago's Loop district for $4 million. This purchase comes at a considerably lower price compared to its previous sale in 2012, when it was sold for $51 million. Spanning across 240,000 square feet, the property offers move-in-ready spaces with short-term leases, targeting smaller tenants in the challenging office market.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $4,000,000
• Square Footage: 240,000
• Price Per Square Foot: $17
• Address: 300 West Adams Street, Chicago
• Market: Chicago

Bruce Miller, Jaime Fink, Patrick Shields, and Sam DiFrancesca from JLL represented all parties involved in this sale. Igor Gabal aims to capitalize quickly on the office market by focusing on leasing the property's vacant space to smaller tenants.