{"id":1004176929,"date":"2017-05-16T07:43:33","date_gmt":"2017-05-16T15:43:33","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004176929"},"modified":"2022-12-07T06:33:49","modified_gmt":"2022-12-07T14:33:49","slug":"chicago-cbd-asset-changes-ownership-after-22-years","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/chicago-cbd-asset-changes-ownership-after-22-years\/","title":{"rendered":"Chicago CBD Asset Changes Ownership After 22 Years"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004176930\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-6-8-S.-Clark-Street-2.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004176930\" data-attachment-id=\"1004176930\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/chicago-cbd-asset-changes-ownership-after-22-years\/rendering-of-6-8-s-clark-street-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-6-8-S.-Clark-Street-2.jpg\" data-orig-size=\"768,576\" data-comments-opened=\"0\" 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;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Rendering of 6-8 S. Clark St., Chicago\" data-image-description=\"&lt;p&gt;Rendering of 6-8 S. Clark St., Chicago&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Rendering of 6-8 S. Clark St., Chicago&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-6-8-S.-Clark-Street-2.jpg?w=768\" class=\"wp-image-1004176930 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-6-8-S.-Clark-Street-2.jpg\" alt=\"Rendering of 6-8 S. Clark St., Chicago\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-6-8-S.-Clark-Street-2.jpg 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/Rendering-of-6-8-S.-Clark-Street-2.jpg?resize=300,225 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004176930\" class=\"wp-caption-text\">Rendering of 6-8 S. Clark St., Chicago<\/p><\/div>\n<p>Baum Realty Group has facilitated the sale of a 16,180-square-foot, value-add property in \u201cThe Loop,\u201d Chicago\u2019s central business district.<\/p>\n<p>The seller, fast-food chain restaurant Wendy\u2019s, bought the mixed-use facility in 1995 and sold it for $3.6 million, according to PropertyShark data. Greg Dietz and Danny Spitz, Baum Realty managing directors, represented the owner. The buyer is Bowman Industries LLC, an out-of-state investor.<\/p>\n<p>The facility at 6-8 S. Clark St., which features a mix of office and retail spaces, has had only one tenant in the last couple of years\u2014a Wendy\u2019s restaurant. The retailer occupied the first floor of the building, while the other three floors have been up for lease.<\/p>\n<p>\u201c<em>It is rare for a boutique property located within Chicago\u2019s \u2018Loop\u2019 CBD to become available for sale, particularly with a blank slate to completely rebrand a vacant building<\/em>,\u201d said Dietz in prepared remarks. His colleague, Spitz, added that another advantage the building had was its proximity to four Chicago Transit Authority \u2018L\u201d stations.<\/p>\n<p>Since 2014, Baum has brokered more than $450 million in deals, one of its most recent acquisitions in the Chicago area being a <a href=\"https:\/\/www.commercialsearch.com\/news\/baum-realty-mediates-sale-of-chase-bank-building\/\">Chase Bank building<\/a> at 7180 W. Grand Ave. in Elmwood Park, Ill.<\/p>\n<p><em>Image courtesy of Baum Realty Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Baum Realty Group brokered the sale of a boutique, mixed-use building at 6-8 S. Clark St., which has been under Wendy\u2019s ownership since 1995.<\/p>\n","protected":false},"author":1064,"featured_media":1004176930,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,21825,13,21752,21742],"tags":[33119,33120,35569],"class_list":["post-1004176929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-finance","category-midwest","category-mixed-use","category-latest","tag-baum-realty-group","tag-danny-spitz","tag-the-loop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chicago CBD Asset Changes Ownership After 22 Years - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/chicago-cbd-asset-changes-ownership-after-22-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chicago CBD Asset Changes Ownership After 22 Years\" \/>\n<meta property=\"og:description\" content=\"Baum Realty Group brokered the sale of a boutique, mixed-use building at 6-8 S. 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