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| Germania Club Building, 108 West Germania Place, Gold Coast Neighborhood, Chicago, IL |
CHICAGO, IL (Oct. 13, 2014) – Kiser Group, Chicago’s leading
mid-market commercial real estate brokerage firm, brokered the sale of the Germania
Club Building, a historic 40,634-square-foot mixed-use building at 108 W.
Germania Place in Chicago’s Gold Coast neighborhood.
The property fetched a
$7.89 million sale price.
Designed in 1888 by architectural firm Addison & Fielder
for prominent members of Chicago’s German-American community, the building has
become one of the North Side’s most recognizable properties.
Listed on the National Register of Historic Places, the
Germania Club Building features two grand ballrooms with 50’ ceilings that
serve to host corporate, civic and private events, as well as a mix of retail
and office tenants including Starbucks, T-Mobile and Lincoln Park Preparatory.
The property is 100 percent leased.
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| Bill Baumann |
“This was an amazing chance to purchase not only a piece of
Chicago history, but also a fully stabilized investment property in one of
Chicago’s best neighborhoods,” said Bill Baumann, senior managing
director for Kiser Group, who brokered the transaction.
“The asset is very well-maintained and boasts a mix of
stable, long-term tenants. This is only the third time this property has come
to market in its storied history, making it a very unique opportunity.”
Located near the intersection of Clark Street and North
Avenue and directly across from the Latin School and Chicago History Museum,
the Germania Club Building is one of the city’s architectural gems, said
Baumann. It was designated a Chicago landmark in 2011.
The ballrooms reflect ornate Victorian architecture, with
inset gold domes, original chandeliers and 20’ arched-windows.
“Space like this simply isn’t designed anymore,” said
Baumann. “The Germania Club has been a staple of Chicago for more than a
century and with its historic, old-world feel, it is sure to remain a top
destination for some of the city’s premier special events for decades to come.”
For a complete copy of the company’s news release, please
contact:
Mark Thomton, mthomton@taylorjohnson.com,
312-267-4523
