20-Oct-16 – For $467.5 million, a Boston company now owns the office space at AMA Plaza in River North and a 902-stall parking garage. The deal does not include The Langham Chicago hotel.

Beacon Capital Partners, a private real estate investment firm, announced on Tuesday that it closed on the acquisition on September 29.

1.14 million square feet of rentable office space is located on floors 14-52 of AMA Plaza, above the hotel. According to Beacon, the building is 96 percent leased with tenants that include American Medical Association. The parking garage is at 401 North State Street.

The seller is Riverview Realty Partners, formerly known as Prime Group Realty Trust. Jeffrey Patterson, president and CEO of Riverview Realty Partners, says it is the largest office building sale in downtown Chicago so far this year. They bought the building in 1999 for $239 million and in 2008, sold floors 2-13 to The Langham for $46 million.

Recent renovations include a new 5,000 square foot fitness center for tenants, café, and conference center. In June, Building Owners and Managers Association named AMA Plaza Outstanding Building of the Year in the over-one-million-square-foot category.

The 43-year-old building, designed by architect Ludwig Mies van der Rohe, is an official Chicago landmark and on the National Register of Historic Places.