225 W. Wacker Sells for $115M, 45% Under Its 2020 Record
Hines and Prime Finance bought 225 W. Wacker for $115M, per Cushman & Wakefield. Cook County's 2020 recorded sale was $210M, so the price is 45% lower.
Hines and Prime Finance have bought 225 W. Wacker Drive, a 31-story, roughly 651,000-square-foot Loop office tower, for $115 million, according to a Cushman & Wakefield announcement dated Nov. 6, 2026. The seller is Spear Street Capital, per the release.
Cook County’s own sale history for the building shows how far the price has moved. The last recorded sale, in 2020, carried a declared price of $210 million, and the 2013 sale before it carried $218 million. The new price is about 45 percent below the 2020 record.
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Why it matters
Several outlets, including Connect CRE and Bisnow, describe the building as Cushman & Wakefield’s Chicago headquarters. The firm’s release frames it as a brokered sale: Cushman represented the seller and says it will remain the anchor tenant under the new owners. The release does not disclose occupancy.
For Loop office, the record is the useful part. A tower that changed hands at $210 million in 2020 now trades at $115 million, a round trip that fits the discount pattern across downtown Chicago office. The release’s own wording places it among the largest downtown Chicago office trades since 2022.
The numbers
Cook County’s parcel sale history for the building (PIN 17-09-413-002) shows a 2020 recorded sale at $210 million (doc 2016708000) and a 2013 recorded sale at $218 million (doc 1314116019). The 2013 and 2020 figures are declared prices on the recorded sale records.
On the 651,000 square feet in the release, the 2026 price works out to about $177 a square foot. That is our arithmetic, not a release figure. Prime Finance’s acquisition financing was advised by Cushman’s debt and structured finance group, per the release; no loan amount was given.
What’s next
The 2026 deed had not appeared in Cook County Clerk recordings we could search as of this writing, so the $115 million price rests on the announcement, not a recorded document. Cook sale records carry a declared price and typically lag by about two months. When the deed posts, we will compare its declared price and any new mortgage against the figures here.
ON THE RECORD: Price, buyers, seller and Cushman’s anchor-tenant role are from the Cushman & Wakefield release of Nov. 6, 2026. The $210 million and $218 million figures are recorded Cook County sales. ALSO REPORTED BY: Connect CRE and Bisnow (Nov. 5).
More Chicago office-market coverage: Chicago.
Quick answers
- How much did 225 W. Wacker in Chicago sell for?
- Hines and Prime Finance bought 225 W. Wacker for $115M, per Cushman & Wakefield. Cook County's 2020 recorded sale was $210M, so the price is 45% lower.
- Who is developing 225 W. Wacker Drive?
- Hines and Spear Street Capital, according to Cushman & Wakefield (company announcement).
- What are the key numbers for 225 W. Wacker Drive?
- 2026 price: $115M; 2020 recorded: $210M; below 2020: 45%; 2013 recorded: $218M.
On the record
Cook County's recorded 2020 sale of 225 W. Wacker (doc 2016708000) carried a declared price of $210M, and the 2013 sale (doc 1314116019) $218M, so $115M is 45% below the 2020 record and about 47% below 2013.
Public record · cookcountyassessor.com
Also reported by
- Cushman & Wakefield (company announcement)Cushman & Wakefield Announces Sale of 225 W. Wacker in Chicago to Prime Finance and Hines