Real Estate
Cheap Chicago Property Lures Buyers for Offices, Griffin’s Condos
- Sales of office buildings jumped to highest in almost a decade
- Six priciest residential deals in Chicago are downtown condos
A Chicago Transit Authority train in Chicago.
Photographer: Al Drago/BloombergThis article is for subscribers only.
Chicago’s beleaguered downtown is finally getting a boost: Buildings are so cheap that they’re hard to resist.
Options exchange Cboe Global Markets Inc. sold its former headquarters in June at a 43% discount to its value just five years prior, helping to drive Chicago office building deals to the highest in almost a decade. Leasing also is picking up, with Coca-Cola Co. doubling its office space in the city.