A fund advised by CBRE Global Investors has acquired an iconic office building in the East Loop submarket of Downtown Chicago. The 41-story, 661,477-square-foot, class A multi-tenant office building is located at 150 N. Michigan Ave. It features a recently completed conference center, fitness center and tenant lounge. The property is currently 80 percent leased.

CBRE Global Investors likes the Chicago market because the firm believes it is one of the top U.S. markets for millennial workers who want to live in the CBD and value a walkable, urban environment and local amenities.

“The young, mobile, and highly educated millennial worker is looking for a different office setting than what has previously been in demand,” said Robert Perry, principal and portfolio manager at CBRE Global Investors, in a statement.

With its close proximity to Chicago’s famous Magnificent Mile, the East Loop submarket is undergoing a significant transformation as it attracts notewo