Stream Realty Partners, a national commercial real estate firm, has closed the sale of the 400 South Jefferson building in Chicago’s West Loop submarket. The 247,000-square-foot, eight-story mid-rise structure, strategically located at Jefferson Street and Van Buren Street, was originally constructed in 1946 for the Newman-Rudolph Lithographing Company.
The building, which was the former site of the Tyson Foods headquarters, underwent extensive renovations after Chicago-based Sterling Bay redeveloped the Tyson Foods building in 2012 and sold the property for almost $98 million in 2013 to Cole Real Estate Investments.
The sale was facilitated by Stream’s Managing Director Mark Bâby and Executive Managing Director and Partner Patrick Russo, along with the buyer’s representatives from Cushman & Wakefield, Jeff Skender and Craig Cassell.”This sale underscores the strength and desirability of the West Loop submarket,” said Bâby, Managing Director at Stream.
The buyer of the property, The Chicago School, will use the space to accommodate approximately 1,800 students, faculty, and staff from both institutions and the space will also be home to the Illinois College of Osteopathic Medicine.
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