Two TransAm Plaza is a 118,000-square-foot office building located in the highly desirable I-88 East-West Corridor submarket of Chicago. The property was purchased in 2014 for $7,775,000 with a loan of $5,831,250. At the time of purchase, the property was 50% leased. American Landmark completed an extensive renovation of the lobby and common areas to support its lease-up of the property. Occupancy was increased to 80% within America Landmark’s first year of ownership. American Landmark Properties managed and leased this building. American Landmark successfully negotiated and closed a sale at the start of the COVID-19 pandemic in March of 2020. The property was sold for $14,630,000. This translated to a 1.3x equity multiple and a 6.2% IRR for investors.