Mansueto Properties, founded by Morningstar founder Joe Mansueto, announced today that it bought the Wrigley Building in downtown Chicago."We are committed to preserving the legacy of this building and ensuring that it remains a vital part of Chicago's growth well into the future,” Mansueto said in a statement.
The BDT venture paid just $33 million for the Wrigley Building and a 1.5-acre site next to it at 443 N. Wabash Ave. In 2014, it sold off the Wabash site to California-based real estate investor Macerich for $42 million, more than recouping its initial investment in the property.
In 2012 the building was declared a city landmark.
About Mansueto Properties
Mansueto Properties is a newly-formed entity created to hold the real estate holdings of Joe Mansueto. Joe is the Founder and Executive Chairman of Morningstar.
About BDT Capital Partners
BDT Capital Partners provides family- and founder-led businesses with long-term, differentiated capital. The firm manages more than $9 billion across its investment funds and an additional $4.6 billion of co-investments from its global limited partner investor base. The firm’s affiliate, BDT & Company, is a merchant bank that works with family- and founder-led businesses to pursue their strategic and financial objectives. BDT & Company provides solutions-based advice and access to a world-class network of business owners and leaders.
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