Fern Hill Co. Acquires Office Building In Chicago From Kyle Stengle For $6M

The property involved in the transaction is located at 360 N State St, Chicago, IL, 60654. It is a four-story, mixed-use building totaling approximately 54,000 rentable square feet. The third floor comprises 13,315 rentable square feet with 12-foot ceilings, while the fourth floor consists of 14,195 rentable square feet, boasting 22-foot ceilings and a large 28-foot open-air private balcony. The sale price for this property was $6,000,000.00.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $6,000,000.00
• Market: Chicago
• Seller's Rep: Kyle Stengle (Marcus & Millichap)
• Buyer: Fern Hill Co.
• SF: 27510

Kyle Stengle, the senior vice president at Marcus & Millichap, along with Stephen Lieberman, first vice president, exclusively marketed the property on behalf of the Museum of Broadcast Communications (MBC). The buyer, Fern Hill Co., a privately held real estate development and investment firm in Chicago, plans to renovate and reposition the property. The vibrant River North neighborhood, well-known for its amenities and proximity to the Loop, public transit, and entertainment venues, makes it an attractive location for this investment.