Korean investor consortium buys Chicago trophy asset
Korean investors are continuing their investment expansion in the West, this time with a recent trophy office acquisition in Chicago.
CBRE Global Investors’ US Managed Accounts Group has closed on the acquisition of 161 N Clark Street, a 49-storey office building in downtown Chicago, on behalf of a consortium of investors led by Korea Post, for approximately US$312 million. CBRE Global Investors declined to comment on the sales price. The seller was Tishman Speyer.
Located in the Central Loop submarket of downtown Chicago, the roughly 99,300-square-metre property features a subterranean pedestrian walkway connection to the Clark/Lake elevated train station that houses the five primary CBD train lines and has direct train access to both Midway and O&r