Onni Paid $125M for 161 N. Clark, a 50-Story Loop Tower
Cook County records show a $125M deed for 161 N. Clark, recorded in March, with a Barings mortgage. Urbanize Chicago reports a redevelopment is planned.
- Source Briefing
- Public record
- Also reported by Urbanize Chicago
Cook County records show Onni, the Vancouver-based developer, took the 50-story office tower at 161 N. Clark St. in the Loop for $125 million in March. Urbanize Chicago reported Nov. 10 that a redevelopment of the building is planned. This is a recorded transaction, not breaking news.
Why it matters
A deed, a new mortgage and lender releases recorded together show a distressed Loop tower changing hands and being refinanced in one day. Urbanize Chicago reports the seller was Societe Generale, which it says took control of the building through foreclosure proceedings against the prior ownership. Our records pull shows Societe Generale release and termination documents recorded alongside the deed.
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Urbanize also reports the plan covers a redesigned lobby and two new amenity floors of about 60,000 square feet combined, with construction expected to start in early 2027. Those scope and timing details are the outlet’s reporting; we have not seen a redevelopment permit. See more in Chicago.
The numbers
The Cook County deed (doc. 2608208004) lists a $125 million sale price dated Mar. 19, 2026 and covers four parcels. The buyer is Onni 161 Natl Clark LLC, an entity of Onni; the grantor is 161 Natl Clark Newco LLC.
A mortgage and assignment to Barings (docs. 2608208005 and 2608208006) were recorded the same day. The records do not state a loan amount in the index fields we pulled, and we do not estimate one.
For context, the parcels’ 2013 recorded sale (doc. 1328434105) carries a recorded consideration of $331.25 million. That transfer was between related owner entities, so we draw no comparison from it.
What’s next
Urbanize reports construction starting in early 2027. Two filings would confirm the scope: a City of Chicago building permit for the lobby and amenity floors, and a recorded construction loan or mortgage modification. Chicago permits issued earlier this year for the 8th and 9th floors pre-date the deed.
Quick answers
- What is the latest on Onni Group in Chicago?
- Cook County records show a $125M deed for 161 N. Clark, recorded in March, with a Barings mortgage. Urbanize Chicago reports a redevelopment is planned.
- What are the key numbers for Onni Group?
- recorded price: $125M; parcels: 4; stories: 50.
- Where does the information on Onni Group come from?
- The story cites Cook County Clerk, recordings (deed doc. 2608208004, recorded Mar. 23, 2026) and Urbanize Chicago.
On the record
Cook County deed doc. 2608208004 conveys four parcels at 161 N. Clark St. (PINs 17-09-436-015, 17-09-437-007, 17-09-437-008 and 17-09-424-004) at a $125,000,000 sale price dated Mar. 19, 2026, to Onni 161 Natl Clark LLC, recorded Mar. 23.
Public record · crs.cookcountyclerkil.gov
Primary record
- Public recordA mortgage (doc. 2608208005) and assignment (doc. 2608208006) in favor of Barings were recorded the same day, alongside Societe Generale release and termination docs 2608208007 and 2608208008.View the record on crs.cookcountyclerkil.gov
Also reported by