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Report: Hilco JV, Bridge Investment negotiate $113M deal for Chicago landmark

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Report: Hilco JV, Bridge Investment negotiate $113M deal for Chicago landmark

Bridge Investment Group LLC is close to securing a roughly $113 million agreement to buy an office building in downtown Chicago, Crain's Chicago Business reported, citing a source familiar with the deal.

At the center of the deal is the 493,738-square-foot, 47-story tower at 1 N. LaSalle St. The 88-year-old property became a Chicago landmark in 1996 and included to the National Register of Historic Places in 1999.

Hilco Real Estate LLC and MB Real Estate executives Kevin Purcell and Peter Westmeyer, bought the tower for $82.5 million in March 2016, Cook County records cited in the Sept. 6 report showed.

A spokesperson from Bridge declined to comment on the deal, and none of the sellers could be reached by the publication.