CHICAGO – Bradford Allen’s agency services group has been assigned as the listing agent for the former Bell Federal Savings & Loan building located at 79 W. Monroe in Chicago by the Farbman Group who purchased the building last week.
Located at Monroe and Clark, the Farbman Group of Detroit purchased the 199,824 square foot office property from Bank of America. The firm currently owns 700,000 square feet of property in Chicago; however, this is its first lease-up risk for the ownership. The 15-story, neoclassical office building constructed in 1903 is 72% vacant with approximately 95,000 square feet of contiguous space available. The Farbman Group, who enlisted Bradford Allen’s agency services group to list 216 W. Jackson, again selected the Chicago-based commercial real estate firm to secure new tenants for the Bell building.
“We are excited to market this historic space within the Bell building which has never before been available to the marketplace,” said Jeffrey Bernstein, a principal and co-founder of Bradford Allen who leads the firm’s growing agency practice. “Having worked with the Farbman Group for several years, we can attest to the ownership’s attentiveness and professionalism and look forward to assisting them with this new Loop endeavor.”
Bradford Allen’s Director Andrew DeMoss will represent the firm in the marketing efforts. “This is a great opportunity for users looking for space within Chicago’s Loop,” commented DeMoss. “The property is situated within three blocks of all of the CTA lines, within close proximity to the Federal buildings, offers six full floors of contiguous space and is move-in ready.”
The former Federal Bell building was designed by Jarvis Hunt and features a “Weather Bell” sign that changes color with impending temperature changes. The property was renovated in 1989 and includes fiber optic wiring and raised flooring.
About Bradford Allen
Bradford Allen Realty Services, a Chicago-based commercial real estate firm, makes a full range of services and expertise available to entrepreneurial and corporate business entities, and not-for-profit organizations. The firm provides real estate strategy, advice, marketing, and transaction execution for occupiers, investors and owners of real estate. Please visit our website at www.bradfordallen.com.