Irish Private Investors Buy Chicago Landmark Office Block

Stephen Harris

23 February 2007

Anglo Irish Bank has provided $93 million in acquisition financing for a joint venture between a syndicate of Irish-based private clients of the bank’s Wealth Management Division and Golub & Company to purchase Chicago’s 625 North Michigan Avenue, a Class A office tower with ground-floor retail space. Golub & Company and the Irish investors purchased the property from BPG Properties and Jones Lang LaSalle represented the seller and brokered the transaction. The building was developed in 1970 by Golub & Company’s predecessor firm, which was co-founded by Eugene Golub, chairman of Golub & Company. Golub & Company has held an ownership position in and managed the building since its completion. The building also serves as the company’s corporate headquarters. The 27-story, 338,269-square-foot tower is 94 per cent leased and houses 50 office and retail tenants.