CHICAGO, June 13, 2011 /PRNewswire/ -- CME Group, the
world's leading and most diverse derivatives marketplace, today
announced that it has hired Jones Lang LaSalle and Holly Duran Real
Estate Partners LLC (HDREP) to market the historic Chicago Board of Trade Building, located in
the city's Financial District, for sale. The landmark
property, called "one of Chicago's
great skyscrapers" by the Chicago Tribune, is composed of three
buildings, including the main tower (north building), the "Annex"
(south building) and the east building. The 1.4
million-square-foot north and south buildings are being offered as
a partial sale-leaseback. CME Group will retain ownership of
the east building, including the financial product trading
facilities and office space, and will enter into a long-term lease
of the agricultural commodities trading facilities and certain
office space in the north building.
"CME Group remains committed to our floor based membership and
open outcry trading services, which continue to be a profitable
part of our business and serve our customers well," said
Jamie Parisi, CME Group Chief
Financial Officer. "The sale of the Chicago Board of Trade north and south
buildings will enable CME Group to continue to reinvest in our core
derivatives business while still leasing about 150,000 square feet
in the north and south buildings, including the agricultural
trading floor. CME Group will continue to own and occupy the
288,000 square foot east building."
Leading the Jones Lang LaSalle team on the transaction are
Managing Directors Bruce Miller and
Jim Postweiler, Vice President
Jascint Vukelich and Associate Nooshin Felsenthal. Holly
Duran, Principal of HDREP, has served as CME Group's strategic
global real estate advisor for more than 30 years and will be
co-brokering the sale, along with Associate Jeff Mulder.
Duran said: "With the global nature of CME Group, a vibrant
trading floor complex and as many as 30,000 people a day walking
through the building's magnificent lobby, this landmark property
holds broad international appeal. The unique building hosts
many of the world's leading market participants. We expect
significant interest from investors across the country and around
the world who want a core property with value-add potential."
Said Miller: "This is truly one of the most iconic buildings in
the Chicago skyline, amidst a city
known for its architecture. But in addition to its outer
beauty, this landmark also offers enormous infrastructure
redundancies with regards to its power, cooling and
telecommunications, making it quite appealing to tenants.
That, and its significant upside, will be a major draw for
investors."
The property is located at 141 West Jackson Boulevard in
Chicago's Central Loop. It
was built in 1930 and designated a historic landmark in 1978.
The building is widely known for its art deco architecture
and iconic three-story sculpture of Ceres, the Roman goddess of
agriculture and grain, as well as its robust, state-of-the-art
infrastructure and electronic trading space with high ceilings.
In 2006, the building's owners completed a $20 million renovation program.
About CME Group
As the world's leading and most diverse derivatives marketplace,
CME Group (www.cmegroup.com) is where the world comes to manage
risk. CME Group exchanges offer the widest range of global
benchmark products across all major asset classes, including
futures and options based on interest rates, equity indexes,
foreign exchange, energy, agricultural commodities, metals, weather
and real estate. CME Group brings buyers and sellers together
through its CME Globex® electronic trading platform and its trading
facilities in New York and
Chicago. CME Group also
operates CME Clearing, one of the world's leading central
counterparty clearing providers, which offers clearing and
settlement services for exchange-traded contracts, as well as for
over-the-counter derivatives transactions through CME ClearPort®.
These products and services ensure that businesses everywhere can
substantially mitigate counterparty credit risk in both listed and
over-the-counter derivatives markets.
CME Group is a trademark of CME Group Inc. The Globe Logo, CME
and Globex are trademarks of Chicago Mercantile Exchange Inc.
CBOT and the Chicago Board
of Trade are trademarks of the Board of Trade of the City of Chicago, Inc. All other trademarks are
the property of their respective owners.
About Holly Duran Real Estate Partners
Based in Chicago, Holly Duran
Real Estate Partners LLC (www.hdrealestate.com) is a global real
estate strategy and services firm dedicated to providing
innovative, cost-efficient solutions to commercial tenants. The
firm has negotiated over 15 million square feet of office,
industrial and data center leases in over 65 cities, 36 states and
nine countries, managing transactions and lease portfolios for
clients ranging from small professional firms to large
multi-national organizations. HDREP provides a full scope of real
estate services, including brokerage, strategic advisory,
investment sales, acquisitions and dispositions, development, real
estate finance and analysis, real estate valuation and project
management. HDREP represents more futures-related business than any
other real estate advisor in Chicago, in addition to clients in the
financial, legal and entertainment industries. Clients include CME
Group, Rosenthal Collins Group, TBA Global, Wheelhouse Solutions,
Broker's Risk Placement Services, The Heico Companies, LLC, Levy
Family Partners, MF Global Inc., Sperling & Slater, P.C., Wind
Point Partners and McDermott Will
& Emery.
About Jones Lang LaSalle
Jones Lang LaSalle Capital Markets is a full-service global
provider of capital solutions for real estate investors and
occupiers. The firm's in-depth local market and global investor
knowledge delivers the best-in-class solutions for clients —
whether a sale, financing, repositioning, advisory or
recapitalization execution. In 2010 alone, Jones Lang LaSalle
Capital Markets completed $43 billion
in investment sale and debt and equity transactions globally. The
firm's dealmakers completed $33
billion in global investment sales and buy-side
transactions, equating to nearly $140
million of investment trades completed every working day
around the globe. In the United
States, Jones Lang LaSalle grew its office broker volumes by
257 percent in 2010 and is quickly gaining market share across all
property types. Jones Lang LaSalle's Capital Markets team comprises
approximately 800 specialists, operating in 185 major markets
worldwide.
Jones Lang LaSalle (NYSE: JLL) is a financial and professional
services firm specializing in real estate. The firm offers
integrated services delivered by expert teams worldwide to clients
seeking increased value by owning, occupying or investing in real
estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients
in 60 countries from more than 1,000 locations worldwide, including
185 corporate offices. The firm is an industry leader in property
and corporate facility management services, with a portfolio of
approximately 1.8 billion square feet worldwide. LaSalle Investment
Management, the company's investment management business, is one of
the world's largest and most diverse in real estate with more than
$43 billion of assets under
management. For further information, please visit
www.joneslanglasalle.com.
CME-G
SOURCE CME Group