Chicago-based Ameritus and Boston-based Alcion Ventures have sold 549 W. Randolph St., a vintage office building in Chicago’s West Loop, for $36 million, reported Crain’s Chicago Business.
Ameritus and Alcion Ventures paid $19.4 million in 2015 for the seven-story building.
Three major drivers have propelled growth in the Chicago office CBD: technology firm growth, suburban-to-urban migration, and absorption from co-working providers, according to Cushman & Wakefield.
Although no behemoth tech leases have been announced yet this year, substantial organic growth is occurring in Chicago, including Upwork’s expansion from 12,000 square feet to 67,000 square feet, which took occupancy in the first quarter, and G2 Crowd’s 65,000-square-foot lea
