{"id":1004203833,"date":"2018-01-18T12:00:48","date_gmt":"2018-01-18T20:00:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004203833"},"modified":"2022-12-08T04:54:03","modified_gmt":"2022-12-08T12:54:03","slug":"svn-facilitates-century-old-chicago-building-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/svn-facilitates-century-old-chicago-building-sale\/","title":{"rendered":"SVN Facilitates Century-Old Chicago Building Sale"},"content":{"rendered":"<p>By Roxana Baiceanu<\/p>\n<div id=\"attachment_1004203920\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/156-N.-Jefferson-St.-Chicago.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004203920\" data-attachment-id=\"1004203920\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/svn-facilitates-century-old-chicago-building-sale\/156-n-jefferson-st-chicago\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/156-N.-Jefferson-St.-Chicago.png\" data-orig-size=\"800,620\" 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;0&quot;}\" data-image-title=\"156 N. Jefferson St., Chicago\" data-image-description=\"&lt;p&gt;156 N. Jefferson St., Chicago&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;156 N. Jefferson St., Chicago&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/156-N.-Jefferson-St.-Chicago.png?w=800\" loading=\"lazy\" class=\"wp-image-1004203920 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/156-N.-Jefferson-St.-Chicago.png\" alt=\"156 N. Jefferson St., Chicago\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/156-N.-Jefferson-St.-Chicago.png 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/156-N.-Jefferson-St.-Chicago.png?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/156-N.-Jefferson-St.-Chicago.png?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004203920\" class=\"wp-caption-text\">156 N. Jefferson St., Chicago<\/p><\/div>\n<p>SVN has brokered the sale of a 28,000-square-foot loft building in Chicago\u2019s West Loop neighborhood. The asset, previously owned by Gerding Edlen, has become part of RDG Funds\u2019 portfolio. The buyer plans to fully redevelop it.<\/p>\n<p>&#8220;<em>It\u2019s great to see a loft building that\u2019s well over 100 years old be redeveloped so thriving businesses can enjoy it for many years to come,<\/em>\u201d said Chad Schroedl, senior advisor with the SVN Urban Real Estate team, in a prepared statement.<\/p>\n<h2>A slow-to-fill area<\/h2>\n<p>The property is located at 156 N. Jefferson St. and is currently vacant. According to <em>Crain\u2019s Chicago Business<\/em>, Gerding Edlen paid $13.5 million for it in 2015, attracted by its location. The asset is close to the Fulton Market district and the West Loop office area, but is also separated from both of them through the train station and highway. These two factors have made it difficult for the landlords in the area to attract tenants.<\/p>\n<p>SVN\u2019s team of brokers representing the seller included Schroedl, Investment Specialist Drew Dillon and Executive Managing Director Scott Maesel, known for arranging <a href=\"https:\/\/www.commercialsearch.com\/news\/redfin-expands-chicago-footprint\/\">office leases<\/a> for tenants such as Redfin and Spaces. John Livaditis, also a broker with SVN, negotiated the transaction on behalf of the buyer.<\/p>\n<p><em>Image via Google Street View<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Drew Dillon, Chad Schroedl and Scott Maesel led the negotiation efforts on behalf of the seller, Gerding Elden. John Livaditis represented the buyer, RDG Funds.<\/p>\n","protected":false},"author":1064,"featured_media":1004203920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21743,13,21742,21747],"tags":[37555,38878,33330],"class_list":["post-1004203833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-deals","category-midwest","category-latest","category-office","tag-gerding-edlen","tag-rdg-funds","tag-svn"],"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>SVN Facilitates Century-Old Chicago Building Sale - 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\/svn-facilitates-century-old-chicago-building-sale\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SVN Facilitates Century-Old Chicago Building Sale\" \/>\n<meta property=\"og:description\" content=\"Drew Dillon, Chad Schroedl and Scott Maesel led the negotiation efforts on behalf of the seller, Gerding Elden. 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