Share:

Cushman & Wakefield Representing Owner in Sale of Iconic Murphy Auditorium in River North

10/4/2019

Cushman & Wakefield has been retained by the American College of Surgeons (ACS) for the sale of the iconic Murphy Auditorium, at 50 E. Erie St., in Chicago’s River North neighborhood.

Murphy Auditorium in Chicago's River NorthConstructed in 1926 as a memorial to one of the organization’s founders, Dr. John B. Murphy, the 32,193 square foot (sf) French Renaissance style building has served as a premier events space for galas, fundraisers, weddings and corporate events.

Erected as a replica of La Chapelle de Notre Dame de Consolation in Paris, the building’s distinct feature is the pair of bronze doors that dominate the front entrance. The property includes a three-story auditorium which seats 500+ and is highlighted by a tall backlit multicolored stained-glass window with an additional one-and-a-half floors of office space above and restrooms and service areas on the garden level.

“It’s a rare opportunity that a historic venue like the Murphy Auditorium becomes available for purchase on the open market,” said Cushman & Wakefield Managing Director Dirk Riekse. “This unique property and unparalleled location lends itself well to a variety of uses and we’re excited to work with the ACS team to identify a new owner who will bring in their creative ideas on how to utilize the existing space to best meet their interests and needs.”

The mixed-use property opened its doors to public events after extensive renovations were completed in 2006. The events space has hosted fashion shows, television and commercial shoots, professional sports media events, and university alumni awards in recent years.

“The property not only has historic significance to the American College of Surgeons but has stood as a prominent landmark to residents and visitors of downtown Chicago for nearly a century,” said David B. Hoyt, MD, FACS, executive director of the ACS. “We hope the building will continue to create memories for all and be a cultural centerpiece to our city for another century and beyond.”

Along with Riekse, ACS is being represented in the sale by J. Frank Franzese, executive managing director, Kathleen Nelson, senior director, and Aaron Schuster, senior director.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushmanwakefield.com External Link or follow @CushWake External Link on Twitter.