Discovery Partners Institute to Acquire 250 South Wacker Drive Office for $25 Million
Discovery Partners Institute is in contract to purchase a 16-story office building at 250 South Wacker Drive, Chicago, for approximately $25 million from UBS. The building, mostly vacant after Molson Coors vacated its headquarters, was initially bought by Credit Suisse for about $90 million in 2011. The deal follows the institute's abandoned plans for a larger development within The 78 project. The University of Illinois System confirmed it is moving forward with the purchase, but details remain undisclosed.
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Discovery Partners Institute is set to acquire a 16-story office building at 250 South Wacker Drive, Chicago, for around $25 million from UBS. The property, constructed in the 1950s, has seen significant vacancy following Molson Coors Brewing Company's relocation of its headquarters in 2023.
UBS previously purchased the building for about $90 million in 2011. The acquisition aligns with a trend of discounted office buildings in Chicago. Discovery Partners Institute, focusing on artificial intelligence and quantum computing, has been searching for a permanent location after withdrawing from plans for a facility in The 78 megadevelopment.
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