KIG Brokers $86 Million Portfolio Sale In Downtown Chicago
Once the focus of local investors, loft office buildings in downtown neighborhoods like River North and the West Loop are now attracting institutional capital, as evidenced by a recent $86 million portfolio sale brokered by Taylor Johnson client KIG CRE. Real estate investment firm R2 Companies and Walton Street Capital purchased the properties from Chicago-based Loft Development Corp., which was represented by KIG Principal and Managing Broker Susan Tjarksen. As Crain’s Chicago Business reports, the portfolio includes six loft office buildings comprising a total of 449,000 square feet and three parking lots the new owners plan to redevelop as residential and office.
445 W. Erie St. was one of six loft office buildings sold as part of an $86 million transaction brokered by KIG CRE.