GlenStar Properties LLC and USAA Real Estate Co. have announced the acquisition of the landmark Chicago Board of Trade Building.
The partnership has also announced a long-term commitment to the building by CME Group, which entered into a long-term lease for 150,000 square feet, including the agricultural trading floor space as well as other office space in the buildings.
This two-building office complex, totaling 1.3 million square feet, is the global center for financial and commodity futures and options products. Built in 1930, the property was listed as a National Historic Landmark and added to the National Register of Historic Places in 1978.
‘We are thrilled to have the opportunity to reposition and introduce this iconic property to the market,’ says Michael Klein, principal at Chicago-based GlenStar Properties. ‘cTogether, we have a clear vision for leveraging the extraordinary technological infrastructure and redundancies of this telecommunications powerhouse. We look forward to expanding the tenant base and attracting a wealth of new technology companies to this premier property.’
