New Owners Acquire Former Chicago
01/14/2011

Bell Acquisition LLC has purchased the former Bell Federal building at 79 W. Monroe in Chicago’s Loop.

Online PR News – 14-January-2011 – – Bell Acquisition LLC has purchased the former Bell Federal building at 79 W. Monroe in Chicago’s Loop. The announcement was made by Andy Farbman, Bell Acquisition LLC member and president of Michigan-based Farbman Group.

Located at Monroe and Clark, the nearly 200,000 square feet structure is often recognized for its exterior landmark weather bell, which changes color in accordance with temperature.

“We have had our eye on this building for a while, and when the opportunity presented itself we bought it very quickly,” said Farbman. “It’s a ‘plug and play’ property. Improvements and upgrades have already been made. We’re able to come in, stabilize the building and therefore better position the property in the marketplace. This makes for competitive pricing per square foot – an ideal location for growing companies.”

Built in 1906, the 13-floor, historically significant structure has considerable street presence and high visibility. Seven floors of the building have already been built out and are ready for immediate occupancy. The property has 100,000 square feet of contiguous space, which was previously occupied by Bank of America.

The building was purchased from Bank of America. Terms of the deal have not been disclosed.

About Farbman Group / NAI Farbman
Founded in 1976, Farbman Group / NAI Farbman is a leading full-service real estate organization handling all facets of real estate transactions, from property management and leasing to acquisition and disposition. Today, Farbman is one of the largest and most respected full service organizations in the Midwest. The firm manages more than 20 million square feet of office, retail, multi-family and industrial space throughout Southeast Michigan and Illinois and is recognized as a leading commercial management and brokerage firm by clientele. For more information, please visit www.Farbman.com and www.NAIFarbman.com.