Ivanhoe Cambridge Buys Into Downtown Chicago Property from Metlife

Posted on 05/11/2017


Ivanhoé Cambridge, the real estate unit of Caisse de dépôt et placement du Québec (CDPQ) and Callahan Capital Properties acquired an office building in downtown Chicago for roughly US$ 145 million. The seller is Metlife. The 31-storey building is at 125 South Wacker Drive. The building was originally built as the headquarter facility for Northern Trust – it was known as The Northern Trust Center. The deal was initially agreed upon in April 13, 2017. Metlife hired Jones Lang LaSalle (JLL) to market the office property.

In October 2012, the building was acquired by MetLife for US$ 109 million.

Keywords: Caisse de depot et placement du Quebec.