July | 2018
Chicago Deal Sheet
Investor interest in North Center office real estate is gaining momentum. Echo Development Group is the latest firm to enter the North Side neighborhood.
Echo announced the $14M acquisition of 2401 West Grace, a single-tenant office building in North Center. The building is fully leased to an AT&T subsidiary, AT&T Services, which uses the building as a call center and is in the middle of a 500-person hiring spree.
Echo joins R2 Cos., which acquired the WGN-TV studios in February 2017, and Bradley Business Center, a joint venture of Hansen Realty and Centrum Realty and Development, in the growing North Center office activity.