SOLD
Igor Gabal Acquires 12-Story Chicago Office Building In Loop District For $4M
300 West Adams Street
Office
240,000 SF
240,000 SF
Sold 118 days ago
Summary
Sale
ILLINOIS
Office
240,000 sqft
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.
Players
All
5
Agents
4
Agencies
1
Details
SOLD
IMAGE: Jaime Fink, Bruce Miller, Sam DiFrancesca & Patrick Shields
DATE: 01/06/2024
ADDRESS: 300 West Adams Street
MARKET: Chicago
ASSET TYPE: Office
BUYER: Igor Gabal
SELLER: Morgan Stanley (@Morgan.Stanley)
BROKERS: Bruce Miller, Jaime Fink, Patrick Shields & Sam DiFrancesca (@SDiFrancesca) - JLL (@JLL)
SALE PRICE: $4,000,000
SF: 240,000 ~ PPSF: $17
NOTE: Igor Gabal acquired a 12-story Chicago office building in the Loop district for $4 million, considerably less than its 2012 price of $51 million. With an aim to quickly profit in the challenging office market, Gabal plans to focus on leasing vacant space to smaller tenants, offering move-in-ready spaces with short-term leases.View on map
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Address300 West Adams Street
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