Newmark Arranges Sale of 405 West Superior Street in Chicago, Illinois

January 24, 2025 9:00 AM

Newmark announces the firm has arranged the acquisition of 405 West Superior Street, a 49,534-square-foot office building in Chicago, Illinois. The asset was acquired by Self-Help Ventures Fund, a nonprofit 501(c)(3) loan fund, for $5.3 million. Newmark Executive Managing Director Mitchell Loveman and Associate Director Jimena Sayavedra facilitated the transaction on behalf of the buyer.

“The acquisition of 405 West Superior Street reflects the demand for functional, well-located creative office spaces that can support mission-driven organizations like Self-Help Ventures Fund,” said Loveman. “This transaction highlights Newmark’s ability to align unique real estate opportunities with our clients’ operational needs and long-term goals.”

Located just north of downtown Chicago, the seven-story 405 West Superior Street includes 49,534 square feet of leasable area. Self-Help Ventures Fund, part of a family of nonprofit organizations with a collective mission to create and protect economic opportunity for all, will utilize roughly one floor of the building, operating in partnership with Expansive, a flexible workspace operator, along with existing tenants.

Built in 2004, 405 West Superior includes 10-foot lofted ceilings, oversized windows and a top-floor outdoor deck. The property is just two blocks from a stop on the Chicago L train line and four blocks from the entrance to Interstate 90.

Widely considered a leader in its field, Self-Help Ventures Fund has a demonstrated track record of scaling innovative ideas that help empower underserved communities. The nonprofit plans to sublease space available on a month-to-month or longer-term basis to help other nonprofit organizations and businesses thrive.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2024, Newmark generated revenues of approximately $2.6 billion. As of that same date, Newmark’s company-owned offices, together with its business partners, operated from nearly 170 offices with more than 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.

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