DOWNTOWN CHICAGO SEES THE FIRST CLASS A PROPERTY SELL THIS YEAR

In my opinion it’s questionable whether or not it lives up to standard of a Class A property. I guess it all depends on who is delivering the message.

The first Class A asset to sell downtown this year, McMorgan & Co. had sold its 311,000-square-foot 303 W. Madison. The 26-story building was purchased by an international real estate investor in a deal that closed Wednesday for a reported $60 million. Sold by CB Richard Ellis, which will continue to manage and lease the property, the building’s buyer is reported to be tequila maker Jose Cuervo.”