{"id":1004045568,"date":"2012-08-13T06:27:23","date_gmt":"2012-08-13T14:27:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004044303"},"modified":"2022-12-07T11:02:00","modified_gmt":"2022-12-07T19:02:00","slug":"jv-buys-office-building-in-chicagos-west-loop-for-75m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-buys-office-building-in-chicagos-west-loop-for-75m\/","title":{"rendered":"Lubert-Adler\/Farbman JV Buys Office Building in Chicago\u2019s West Loop for $75M"},"content":{"rendered":"<p><a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/midwest\/jv-buys-office-building-in-chicagos-west-loop-for-75m\/1004044303.html\/attachment\/200-west-monroe-monday\" rel=\"attachment wp-att-1004044306\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004044306\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/foxwoods_tanger-2-150x150\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/06\/Foxwoods_Tanger-2-150x150.jpg\" data-orig-size=\"150,150\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Foxwoods_Tanger-2-150&#215;150\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/06\/Foxwoods_Tanger-2-150x150.jpg?w=150\" class=\"alignleft  wp-image-1004044306\" title=\"200 West Monroe Monday\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/08\/200-West-Monroe-Monday1.jpg\" alt=\"\" width=\"259\" height=\"404\" \/><\/a>By Scott Baltic, Contributing Editor<\/p>\n<p>A joint venture comprising Lubert-Adler, Philadelphia, and The Farbman Group, Detroit, has purchased 200 West Monroe, a 535,900-square-foot Class B office building in Chicago, for $75 million. The sale was announced late last week by Holliday Fenoglio Fowler LP, which represented the seller.<\/p>\n<p>The seller, according to the announcement, was \u201ca national private investment group.\u201d The building\u2019s website indicates that its owner is \u201can affiliate of the General Electric Pension Trust, advised by GE Asset Management.\u201d The building is leased and managed by MB Real Estate, Chicago.<\/p>\n<p>The closing took place on July 31, according to a party who\u2019s familiar with the transaction, but did not wish to speak on the record.<\/p>\n<p>Located at the northwest corner of West Monroe and South Wells, the 23-story property is immediately west of the Loop proper (formed by the Chicago Transit Authority\u2019s downtown elevated train line).\u00a0The edifice\u00a0was completed in 1973, then\u00a0renovated in 2006 and is currently 80 percent occupied.<\/p>\n<p>The property also includes 113,354 square feet of separately owned space occupied by an affiliate of the Jewish Federation of Metropolitan Chicago.<\/p>\n<p>The HFF investment sales team representing the seller was led by senior managing directors Jeff Bramson and Jaime Fink and director Mark Katz.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lubert-Adler and The Farbman Group collaborated in the purchase of West Monroe, a Class B office property that is currently 80 percent occupied.<\/p>\n","protected":false},"author":882,"featured_media":1004045567,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,13,21742,21747],"tags":[],"class_list":["post-1004045568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-midwest","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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