Igal Namdar, Elliot Nassim, Jonathan Abda & Jonathan Nazarian Acquire Chicago Office For $80M

The property involved in this transaction is an office asset located at 70 West Madison Street, Chicago, IL. The sale price of the property was $80,000,000, and it spans a total square footage of 1,439,574, resulting in a price per square foot of $55.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $80,000,000
• Square Footage: 1,439,574
• Price per Square Foot: $55
• Buyer: Igal Namdar, Elliot Nassim, Jonathan Abda & Jonathan Nazarian
• Seller: Hearn, GEM Realty Capital & Farallon Capital Management
• Brokers: David Knapp, Blake Johnson, Arthur Johnson & John Saletta - CBRE
• Date of Transaction: 12/30/2024

The key individuals involved in the transaction include the buyers Igal Namdar, Elliot Nassim, Jonathan Abda, and Jonathan Nazarian. The sellers are Hearn, GEM Realty Capital, and Farallon Capital Management. The brokerage team representing the transaction consists of David Knapp, Blake Johnson, Arthur Johnson, and John Saletta from CBRE.