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Blue Star Properties seeks $200M for National building
WeWork is the largest tenant in the 19-story tower built by Daniel Burnham
Blue Star Properties listed the historic National building in the Loop, asking $200 million for the 19-story tower.
The building at 125 South Clark Street is listed among the top Downtown office properties for sale in a MB Real Estate second-quarter office market report. The asking price pencils out to $343 a square foot.
The building is 88 percent occupied, according to JLL, which is marketing it. Among its biggest tenants is WeWork, which occupies the top four floors, and the ground-floor Revival Food Hall.
The 580,000-square-foot building was built in 1907 by famed Chicago architect and planner Daniel Burnham as the Commercial National Bank building of Chicago, according to Blue Star.
The firm bought the building in 2014 for $28 million from Chicago Public Schools, which had used the building as its headquarters. Blue Star then embarked on a massive overhaul and modernization, renaming it “The National,” according to Curbed.
Representatives of Blue Star and JLL, which is listing the property, did not immediately return calls seeking comment.
A Blue Star spokesperson did not immediately return a call seeking comment. Bruce Miller and Nooshin Felsenthal of JLL are the brokers on the property.