CME Group Sells Two Chicago Board Of Trade Buildings For $151.5M
CME Group has sold two of the buildings that comprise the Chicago Board of Trade Building Complex, located at 141 W. Jackson Blvd. in Chicago, to a joint venture between GlenStar Properties and USAA Real Estate Co. for $151.5 million.
The towers include 1.3 million square feet of space. CME Group will sign a 15-year lease for the 150,000 square feet of space it currently occupies in both the north and south buildings, which include the Agricultural Trading Floor, as well as office and trading floor support space.
“CME Group, which has been headquartered in Chicago for more than a century, continues to be committed to this city and to maintaining our trading floors and office space in the 141 W. Jackson building,” said Jamie Parisi, CFO of CME Group, in a press release.
CME Group will maintain ownership of the 288,000-square-foot east building, which has no third-party tenant space and is primarily comprised of the larger of the two active trading floors which houses the CME Group financial products. The address will be changed to 333 S. LaSalle St.
Holly Duran and Jeff Mulder of Chicago-based Holly Duran Real Estate Partners, along with Bruce Miller, Jim Postweiler and Nooshin Felsenthal of Jones Lang LaSalle Capital Markets, represented CME Group in the transaction. Jim Rosenbloom and Mike Manuel of Goldberg Kohn also represented the seller.
“We are extremely pleased to be able to sell our landmark building to the GlenStar properties and USAA Real Estate Co. consortium, who will be great landlords for us and the other tenants,” Parisi continued. “It will also allow CME Group to continue to focus on what we do best — running our exchanges and providing risk management tools to the world.”