Local developers buy office asset in Chicago

A venture of Ameritus and JBG Property Holdings has paid $25 million for Lacuna Lofts, a 220,000-square-foot office building in Chicago.

The property was sold by the Cacciatore family. Financial terms were not disclosed; however, Crain’s Chicago Business reported the price is estimated to be $25 million.

The 220,000-square-foot Lacuna Lofts includes office, retail and event space for rent, as well as a central courtyard development site. The buyers intend to introduce a complementary use on the courtyard site and transform the complex into a vibrant 18-hour, mixed-use office environment.

The loft building once served as a macaroni factory.