---
title: "Here's one illustration of the US commercial real estate market meltdown: values of commercial real estate continues to get destroyed in Chicago..."
description: "A 155k SF office building in Chicago just sold for $17 million, or $109 per SF\nThe seller took a huge 61% loss, paying $44 million for the building in 2017\n\nHere's a worrying snippet from Crain's:\n\"Thanks to remote work and higher interest rates, real estate investors can buy downtown office buildings on the cheap these days. Add a motivated seller trying to unload all of its office stock and the discount gets even steeper.\nMany office properties in the heart of the [Chicago] are now worth less than the mortgages tied to them, fueling a historic wave of distress.\"\nIt will be interesting to see how bad the US commercial real estate meltdown gets (particularly in office) but it's certainly a story to keep an eye on in 2024 as big opportunities emerge\".\n\nSource: TripleNetInvest"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [Here's one illustration of the US commercial real estate market meltdown: values of commercial real estate continues to get destroyed in Chicago...](https://blog.syzgroup.com/syz-the-moment/nestle-on-the-lower-end-of-the-channel-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-2-0-0-0-0-0-0-0-0-0-1-0-169-19343ab1)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Dec 6, 2023, 3:05:01 PM

[View full post](https://blog.syzgroup.com/syz-the-moment/nestle-on-the-lower-end-of-the-channel-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-0-2-0-0-0-0-0-0-0-0-0-1-0-169-19343ab1)

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