Holliday Fenoglio Fowler, L.P. (HFF), on behalf of the owner, is marketing for sale 105 West Adams, a historic, 41-story, 314,855-square-foot office tower with ground-floor retail in the heart of Chicago’s Central Loop. The building, also known as the Clark Adams Building due to its prominence at the popular South Clark and West Adams Streets intersection, was designed by the Burnham Brothers and completed in 1927 as the tallest continuous-clad brick building in Chicago, a distinction the office property for sale still holds today.
The Clark Adams Building is a multi-tenant office building sitting on top of a separately owned 430-room Club Quarters Hotel, which opened in 2001, as well as Elephant & Castle, a pub and restaurant (also non-owned). The neo-classical structure is located adjacent to the Federal Government Core, a multi-building area including Mies van der Rohe’s Federal Plaza and City Hall as well as the LaSalle Street Corridor, the address of choice for many of Chicago’s prominent law firms, financial institutions and professional service firms.
Located in the core of Chicago’s Central Loop, the Clark Adams Building is easily accessible to both vehicular and public transportation commuters. Interstate Highways 90, 94 and 290 as well as Lake Shore Drive are all located within one mile of the property. Union Station and Ogilvie Transportation Center, which serve more than 130,000 and 105,000 daily passengers respectively, are both located half a mile from the office property for sale. Additionally, stations for each of Chicago’s public train lines, which serve 750,000 city commuters daily, are all within two blocks of 105 West Adams. A Divvy station is also situated just steps from the building. Given the property’s central location, the Clark Adams Building boasts a perfect Walk Score® and Transit Score® of 100.
The Clark Adams Building meets all the prerequisites for an exceptional opportunistic investment; current vacancy, attractive basis, substantial development potential, an extremely favorable financing environment and a realistic and readily achievable exit strategy. The property is currently 63 percent occupied and includes ground floor retail tenants Starbucks and Native Foods. This real estate investment listing offers a rare value-add opportunity to acquire a well-located downtown Chicago office building with significant upside potential through refurbishing the lobby; creating a fully-amenitized second floor comprising a fitness center, conference rooms and luxury tenant lounges; constructing outdoor tenant spaces on applicable floors; and/or lease up the existing vacant space.
For more information on the Clark Adams Building or other office properties for sale in the Chicago area, please contact Jeff Bramson, Jaime Fink, Jeff Bucaro, Bryan Rosenberg or Patrick Shields in HFF’s Chicago office. For financing inquiries, please contact Mr. Bucaro. To view HFF’s current real estate investment listings, please click here to be directed to HFF’s property search page.