Chicago, Illinois (August 11, 2016) - M & J Wilkow has acquired the One East Erie Street Building in Chicago, Illinois as part of a joint venture with DRA Advisors LLC. The Building is a 125,922 square foot, mixed use property located in the heart of Chicago's dynamic River North neighborhood. The six-story property was constructed in 1983 and is comprised of 109,783 square feet of office space, 14,853 square feet of retail space, and 204 parking spaces.
Additional improvements are planned to enhance the building's ground level retail offerings, as well as to better position the 25,000 square feet of currently available office space for lease. One East Erie will be managed by M & J Wilkow Properties, LLC, whose on-site management will be led by Vice President of Office Property Management Jeff Tigchelaar. Office leasing will be led by Cushman and Wakefield's highly experienced team.
"One East Erie is an outstanding mixed use property in one of Chicago's most vibrant downtown locations," said Marc Wilkow, President of M & J Wilkow, Ltd. "The River North submarket has experienced a great resurgence in recent years, and this acquisition provides us the opportunity to enter this highly competitive market, where we'll use our strong asset and property management expertise to create significant value for the property."