LOUISVILLE — Real Capital Solutions, the Louisville-based real estate investment company run by Marcel Arsenault, recently bought a downtown Chicago office tower for $132.5 million.
The 35-story office building at 401 N. Michigan Ave. contains 747,522 square feet.
“The acquisition of 401 N. Michigan represents a rare opportunity to secure a top-performing, institutional office tower in an irreplaceable riverfront location,” RCS chief acquisitions officer Adam Abeln said in a prepared statement. “This investment reflects our confidence in Chicago’s well-established core market with deep talent, strong corporate demand and limited new supply, where well-located Class A assets continue to benefit from the flight to quality.”
Brokers with Jones Lang LaSalle Inc. facilitated the deal.
For the past several years, Arsenault has been saying that distressed commercial real estate assets will be increasingly ripe for the picking by savvy investors, and now “RCS is advancing its nationwide investment strategy with an aggressive acquisition spree,” the company in 2025.