Wilton Purchases Vintage Chicago Building

The REIT's first purchase, 65 E. Wacker Place, culminates a more than two-year search for a value-added area property.

January 26, 2011
By Allison Landa, News Editor

Courtesy Flickr Creative Commons user Vincent Desjardins

Real estate investment trust Wilton U.S. Commercial Inc. has made its first purchase: 65 E. Wacker Place, a 1920s office building located in Chicago. The purchase culminates a more than two-year search for a value-added area property.

Wilton was advised by a subsidiary of Wilton Capital Real Estate and Finnegan Menton Real Estate, both of Ireland.

The 24-story, 220,000-square-foot office building was built in 1928 and is currently 90 percent leased. Its tenants range from small businesses to law firms and non-profit organizations. It was purchased for all cash, but the specific dollar amount was not released.

According to Wilton Capital president Wil Byrne, the company plans more purchases in the Chicago area. U.S. Equities Asset Management L.L.C. will be the exclusive management, marketing and leasing agent for the building.