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CB Richard Ellis Wins Assignment to Sell Trophy Office Tower in Chicago

CB Richard Ellis Wins Assignment to Sell Trophy Office Tower in Chicago

The third largest office tower in downtown Chicago, 311 S. Wacker Drive, is on the selling block. An ownership venture comprised of affiliates of Fremont Realty Capital, Mark Karasick and Shorenstein Properties has engaged Mike Vesper and Tom McClayton of CB Richard Ellis’ Chicago Capital Markets Group and Darcy Stacom and Bill Shanahan of the firm’s New York Capital Markets Group as the exclusive advisors for the sale of the 65-story, 1.3 million sq. ft. building.

Completed in 1990, 311 S. Wacker Drive is one of the most recognized landmarks on the downtown Chicago skyline. The building is located directly across the Chicago River from the city's busiest commuter rail station. The property is more than 91% leased, primarily to long-term tenants.

The trophy asset includes a dramatic 80-foot glass enclosed winter garden. Amenities include underground parking for 268 vehicles, conference facilities, full-service concierge and messenger service, state-of-the-art fitness center, café, as well as a Starbucks. Other amenities include restaurants, a florist, printer, dry cleaner and a sundry shop.

“The property was designed by the internationally acclaimed architectural firm of Kohn Pederson Fox and was constructed with the highest quality materials,” said McClayton.

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