Patrick Halloran Purchases Presidents Plaza Office Complex In Chicago For $60 Million

The office asset involved in the transaction is located at 8600-8700 West Bryn Mawr Avenue in Chicago. The transaction price is $60,000,000, covering a total square footage of 831,442 with a price per square foot of $72. The property is the Presidents Plaza office complex, situated near O'Hare International Airport and currently has an occupancy rate of 63%.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $60,000,000
• Buyer: Patrick Halloran
• Seller: TPG Angelo Gordon & Glenstar
• Brokers: Cody Hundertmark, Dan Deuter & Tom Sitz - Cushman & Wakefield
• Market: Chicago
• Date of Transaction: 10/09/2024

This transaction features Patrick Halloran as a high-net-worth investor from Minnesota who is under contract to acquire the property. The selling parties are TPG Angelo Gordon and Glenstar, both significant players in the real estate market. The involvement of Cushman & Wakefield as brokers showcases a notable collaboration in facilitating this office asset's transaction.