Investment Summary
Cushman & Wakefield’s National Office Investment Advisory (OIA) Group has been retained as exclusive advisor and agent to offer for sale to qualified investors the 100% fee simple interest in 225 West Wacker Drive (the “Property” or “Offering”), a trophy, Class A, headquarters-quality office tower located immediately along the Chicago River in the heart of downtown Chicago, Illinois. Situated along the picturesque bend in the Chicago River and fronting Chicago’s wildly popular Riverwalk, the 650,812-square-foot office tower has undergone an extensive renovation and amenity buildout since 2020 that leaves the building well-positioned to capture increased leasing activity and momentum following a reset investment basis under new ownership.
Designed in collaboration between Kohn Pederson Fox and Perkins+Will, this modern and architecturally significant 31-story office tower features highly attractive light and panoramic views afforded by the Property’s riverfront location adjacent to the southern transition of Wacker Drive. This location places 225 West Wacker immediately at downtown Chicago’s fortress, “Main-and-Main” location and conveniently situated between Chicago’s most desirable “live-work-play” submarkets and neighborhoods – the West Loop, Fulton Market and River North. In addition, recent renovations and upgrades to the lobby experience, tenant amenities, common areas and base building systems have solidified the building’s position amongst downtown Chicago’s premier office assets. As the Chicago market continues to recover from the current market dislocation, 225 West Wacker is perfectly positioned to capture growing tenant demand, increase rental rates at the building and outperform the broader Chicago CBD market.
Investment Highlights
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Iconic, Trophy-Quality, Riverfront Office Tower with Coveted Wacker Drive Address
Transformative Building Renovation & Amenitization
Global Headquarters - Quality Office Tower
"Y" in the Chicago River: Downtown Chicago's "Main-and-Main" Fortress Location
West Loop: Chicago's Strongest & Most Resilient Submarket
Historical Riverfront Office Outperformance
Discount to Replacement Costs with Limited Pipeline Looking Forward
The Power of Resetting Basis
Property Summary
Year Built / Renovated
1989 / 2023
Stories
31
Net Rentable Area
Avg. Floor Plate Size
650,812 SF
24,800 SF - 26,000 SF
Executive Parking Garage Capacity
233 Spaces
Occupancy
86%
# if Tenants
31
Avg. Tenant Size
18,050 SF
Weighted Avg. Remaining Lease Term (WALT)
6.5 Years
Photo Gallery
Equity Capital Markets
TOM SITZ
Co-Head of Midwest Investment Sales
Executive Managing Director
+1 312 338 7866
CODY HUNDERTMARK
Co-Head of Midwest Investment Sales
Executive Managing Director
+1 312 338 7865
TOM SITZ
Co-Head of Midwest Investment Sales
Executive Managing Director
+1 312 338 7866
CODY HUNDERTMARK
Co-Head of Midwest Investment Sales
Executive Managing Director
+1 312 338 7865
Agency Leasing
MASON TAYLOR
KAROLINE EIGEL
Executive Director
+1 312 470 2302
karoline.eigel@cushwake.com