55 East Monroe, Chicago, IL
1.5 Million-SF Office Building

Opportunity
GlenStar, with Walton Street Capital, acquired this 48 story, 1.5 million-square-foot office building in late 2005. The property was 85% leased, soon to be 70%. Given the changing dynamics of its East Loop location as well as the availability of the top third of the building, an excellent opportunity existed to redevelop and reposition this important Chicago asset.

Strategy
GlenStar created a strategy to convert the top portion of the building (floors 40-49) into 210 luxury residential condominiums featuring unobstructed lake and park views in one of the city's most desirable locations. Units range from one to three bedrooms plus duplex penthouses upwards of 3,500 square feet in size that offer private outdoor terrace gardens. A range of luxury amenities are planned for the development, including a swimming pool, theatre, community room and fitness center. By offering a variety of home styles and floor plans combined with high-level amenities and the city's pre-eminent location and views, GlenStar is confident that The Park Monroe will be one of downtown Chicago's most successful residential redevelopment projects.

Click here to visit the Park Monroe Web Site.

For information on space availability, please contact Christian Domin at
312-212-5312.