Bradley Dannegger Of Arco/Murray Acquires Office Building From Maury Tognarelli For $14M In Chicago

The office building located at 549 West Randolph Street in Chicago is currently under contract with an asking price of $14 million. The asset encompasses a total area of 123,835 square feet and has a price per square foot of $113. The building is 61% leased and has a historical context of being seized by Heitman in 2022 following the previous owner's default on a substantial loan amidst challenging market conditions.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $14,000,000
• Buyer: Bradley Dannegger - Arco/Murray
• Seller: Maury Tognarelli - Heitman
• Brokers: Tom Sitz & Cody Hundertmark - Cushman & Wakefield
• Market: Chicago
• Square Footage: 123,835
• Price per Square Foot: $113

In this transaction, Arco/Murray, represented by Bradley Dannegger, aims to consolidate its local offices in the purchased property. The brokerage team of Tom Sitz and Cody Hundertmark facilitated the deal through Cushman & Wakefield, ensuring both parties were effectively represented in the process.