Homegrown real estate developer Golub & Co. has designs on making the historic Burnham Center an even richer part of Chicago’s landmark history.
The Chicago-based and family-owned developer recently announced it has acquired the famed structure at 111 W. Washington known for its iconic designs with an eye on sprucing up some of the common amenities while adding services that will accommodate the needs of the modern workforce.
As new owners, the company also plans to handle management and leasing for the 22-story, 585,000-square-foot structure designed by famed architect and urban planner David Burnham, according to Michael Newman, principal, president and CEO at Golub.
“Thanks to its historic design and desirable location, Burnham Center is already a strong and vibrant office community,” Newman told West Loop News, adding that Golub has already had a presence across the downtown area since the 1950s and counts such developments as Century Tower, 300 South Wacker and Marquee at Block 37 among the facilities it now owns or serves as property manager.
“As more companies relocate to or expand their presence in downtown Chicago, Burnham Center’s ideal central Loop location and design legacy contribute to its enduring appeal,” Newman said in a press release soon after the deal was announced. “We are pleased to add the iconic Burnham Center to our downtown Chicago portfolio and plan to honor its history as we ensure it continues to meet the needs of today’s workforce.”
As it is, Golub & Company touts itself as a company “built on values and integrity, fairness and loyalty” that consistently creates value and offers "a history of exceeding anticipated returns for our firm, partners and clients.”
It’s a reputation that Newman hinted the company is almost as well-known for as it is managing some of the landmark structures it owns and operates.
“With a nearly 60-year history of investing, developing and redeveloping Chicago commercial real estate, including office, mixed-use, condominium and multifamily rental buildings, the company is recognized as one of Chicago's most successful family businesses,” he said.
The Burnham Center purchase was part of a joint venture with global investment manager The Family Office Co. B.S.C. Terms of the deal were not disclosed
Alerts Sign-up