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Report: Chicago office building on the block for $100M-plus

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Report: Chicago office building on the block for $100M-plus

A venture of Alliance HSP enlisted Cushman & Wakefield to sell its leasehold interest in the 585,000-square-foot Burnham Center in Chicago for more than $100 million, Crain's Chicago Business reported, citing sources familiar with the matter.

The Pennsylvania-based real estate firm purchased the 585,000-square-foot property at 111 W. Washington St. for $94.6 million in 2013, and split the land from the building, or leasehold interest, with the latter valued at $72.6 million, according to Cook County property records, the publication noted.

Burnham Center serves as the headquarters of online food-delivery company Grubhub Inc., which anchors the property with an approximately 156,000-square-foot lease expiring in March 2026. The 22-story Loop office building is 92% occupied, as per real estate information company CoStar Group, according to the March 20 report.