January 3, 2019 Comments Off on New York Life Claims Chicago Tower for $150M Views: 877 Illinois, Midwest, National News

New York Life Claims Chicago Tower for $150M

A New York Life Real Estate Investors venture acquired 200 W. Jackson Blvd., a 28-story Chicago office tower for roughly $150 million. The seller was a JV between Rosemont, IL-based White Oak Realty Partners and New York-based Angelo Gordon.

The White Oak/Angelo Gordon team renovated and leased up the 483,340-square-foot Loop asset after picking it up for $73.3 million in 2015. That encompassed an $8-million renovation with a new top-floor tenant lounge. The upgrades helped attract Nielsen, which signed a 215,000-square-foot consolidation lease in early 2017. That deal, and others, brought the building to roughly 85% leased.

Property records show White Oak and Angelo Gordon refinanced the property in 2017 for $102 million. Eastdil Secured is handling the 200 W. Jackson deal for the buyer and seller.

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