New York Life Real Estate Investors acquired the building for about $150 million, according to Crain’s, which first reported the news. Rosemont-based White Oak and New York-based Angelo Gordon had acquired the 28-story office tower at 200 West Jackson Boulevard in 2015.
The joint venture paid $73.3 million for the roughly 483,000-square-foot building when major tenant Enova International was on the verge of moving out, Crain’s reported. That left the property half empty. The firms then sunk $8 million into renovations, including a top-floor tenant lounge. It signed TV ratings and analytics firm Nielsen to a 215,000-square-foot lease. Now, the building is about 85 percent leased.
Nearby, White Oak and CA Office have already leased most of the 20-story tower they built on spec last year, at 625 West Adams Street. CDW and Ferrara Candy Company signed leases for a combined 360,000 square feet.
Also last year, Angelo Gordon bought the 30-story tower at 225 West Randolph Street from Kushner Companies, nabbing its only Chicago property at an undisclosed price.