Oaktree, GlenStar Properties receives $256m refinancing for historic Chicago office

A partnership between funds managed by Oaktree Capital Management and GlenStar Properties has received $256 million refinancing for 141 W. Jackson, an iconic, 1.33 million-square-foot office tower situated at the doorsteps of Chicago’s LaSalle Street Corridor that comprises the 44-story North Building and the 22-story South Building.

JLL Capital Markets worked on behalf of the borrower.

Known as the Chicago Board of Trade Building (CBOT), 141 W. Jackson is proximate to West Loop South, the new epicenter of a live-work-play district offering restaurants, bars, shopping, hotels and residential and office space. Boasting a Transit Score® of 100 and a Walk Score® of 99, the property is near numerous CTA line stops with connectivity to O’Hare International Airport, the surrounding Chicago suburbs and the area’s major freeways (Interstates 290, 90 and 94).

Ownership has institut