The office asset located at 620 North Lasalle Drive in Chicago features a total square footage of 89,514 and was sold for $7,400,000. This transaction occurred amid challenges in the office market, reflecting a significant reduction from its pre-pandemic value. The property has previously been owned by Next Realty and was converted into co-working space.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $7,400,000
• Buyer: Alex Pissios - Alecko Capital
• Seller: Andrew Hochberg - Next Realty; Wintrust Bank
• Price per Square Foot: $83
• Date of Sale: 02/24/2025
• Market: Chicago

Leading this acquisition, Alex Pissios is recognized for his previous role as CEO of Cinespace. The transaction was executed as a short sale, indicating the building's distressed condition, which was a factor in the sale price and market valuation. This reflects a strategic approach to asset management and investment within the current office market landscape.