CHICAGO—Harbor Group International has sold the 22-story Burnham Center, a historic downtown office tower, to the Shidler Group for $94.6 million.
Harbor purchased the building at 111 West Washington Street in March 2007 for $79.5 million. GrubHub has its 60,000-sq.-ft. headquarters in the building.
The 579,778-sq.-ft. property was built in 1914 and is one of Chicago’s most architecturally significant buildings. Originally designed by the renowned architect Daniel H. Burnham in 1914, the building is listed on the National Register of Historic Places.
“We are pleased that we were able to exit this historic property as the Chicago office market gains momentum,” says Jordan Slone, chairman and CEO of Harbor, in a statement, “We remain committed to downtown Chicago and our pleased with our remaining portfolio of Class A assets, One South Wacker, 300 South Wacker and Two North LaSalle. We believe our Chicago assets are well positioned to benefit from downtown’s leasing upturn.”