Transwestern’s Chicago office today announces it facilitated a 15-year sale-leaseback of the 20,305-square-foot building occupied by the National Museum of Health and Medicine Chicago (NMHM) to an undisclosed buyer. The asset is located at 175 W. Washington St. in the Chicago Loop. Transwestern Managing Directors Marc Imrem and Andrew Watson represented the seller, NMHM, in the transaction.

“The nonprofit museum is a startup with no real revenue or operating history, which impeded finding a buyer,” said Imrem. “In order to overcome the lack of credit, we brought the asset to auction, enabling NMHM to achieve maximum value while ensuring a successful close.”

The seller plans to use the proceeds for needed repairs and improvements to its facility.

With a combined 28 years of experience, Transwestern’s Chicago-based net-lease/sale-leaseback team has completed more than $500 million in net-lease sales in more than 150 transactions. The team has experience in sales of single assets and portfolios nationwide.

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Transwestern is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Chicago Investment Services team, follow @TWChicagoISG.