Transwestern Continues to Provide Leasing & Management for 50-Story Tower
October 09, 2023
CHICAGO – Transwestern Real Estate Services (TRS) is pleased to announce the successful acquisition of 181 West Madison by SinOceanic I Ltd. Transwestern—via the purchase of MB Real Estate on January 1, 2023—has managed and leased 181 West Madison since the building first opened, with Executive Vice President and Managing Director of Leasing Mark Buth and Associate Broker John Nelson currently spearheading leasing efforts.
“It’s an exciting time for 181 West Madison, which is currently 87% leased,” said Buth. “181 has recently added best-in-class amenities to help attract and retain tenants. With a stable owner, I’m confident that the onsite team will ensure 181 outperforms its Class A competition in the Chicago Loop.”
The 50-story, 952,559-square-foot office tower updated its tenant lounge in 2021. The 18th-floor lounge, dubbed Balance 18, features a kitchen and bar, flexible conferencing and entertaining options, a concierge, a state-of-the-art fitness center, a wellness room, and a bike room. The onsite management team often hosts happy hours, trivia and more in Balance 18. Other events are held throughout the year in the building’s sprawling lobby, from elaborate holiday celebrations to ping pong tournaments and an annual March Madness free throw contest.
Codeveloped by J. Paul Beitler and Lee Miglin, 181 West Madison finished construction in 1990. Since then, it has featured two large-scale art pieces by Frank Stella in its five-story marble lobby. The painted sculptures, inspired by Herman Melville’s Moby-Dick, still greet tenants from the lobby’s East and West walls every morning. The building also contains modern electric and cellular data infrastructure, a LEED Gold-certified efficiency rating, and an executive parking garage.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, investment management, and opportunistic endeavors for high-net-worth investors. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.
Media Contact:
Mason Johnson
312.558.3897
mason.johnson@transwestern.com
twmediarelations@transwestern.com
