601W Cos. acquires Chicago office building
601W Cos. is under contract to purchase the Aon Center in Chicago for approximately $712 million from Piedmont Office Realty Trust.
The 83-story building, built in 1972, boasts 2.7 million square feet of office space. It is the third tallest building in Chicago with a height of 1,136 feet, surpassed only by Willis Tower and the Trump International Hotel and Tower. The Chicago office building is currently 83 percent occupied and home to AON, JLL, KPMG, Integrys Energy Group and Edelman. JLL brokered the deal.
The greater Chicago area office market has been attractive to investors, with a total sales volume of $4.9 billion in the first half of 2015. Earlier this month, Cornerstone Real Estate Advisers acquired a Chicago area office as well.
601W Cos. has been active in the Chicago market; this is the firm’s fourth Ch