CHICAGO – Cape Horn Group completed the sale of more than 2,400 square feet of office space at The LaSalle Wacker to two separate law offices, The Deratany Firm and the Law Office of Michelle M. Hughes, which will share the space.  Cape Horn Group has now completed more than 50,000 square feet of office and retail sales at the riverfront building.

“Businesses like these two law firms, which recognize the benefits of office ownership, are finding creative ways to purchase a solid asset in an uncertain market,” said Juan DeAngulo, regional manager for Cape Horn Group. “With available financing at historically low rates, there has never been a better time to buy.”

Jay Paul Deratany is moving from his former office at 77 W. Washington, and Hughes, an adoption attorney, is relocating from the office that she currently leases at The LaSalle Wacker. The two law firms will share space on the building’s 22nd floor.

“The move into this incredible space was a win-win both aesthetically and financially for my law firm,” said Deratany.

“When Jay and I made the decision to purchase our space, I couldn’t think of a better location than in the heart of Chicago’s downtown, and close to the courthouse,” said Hughes. “We can focus on our core practice and reinvest in our firms the money that we save by buying versus leasing.”

Greg Jarvis of residential real estate agency Baird & Warner represented Deratany and Hughes in the purchase, his first commercial transaction.

“While this is a difficult time in the residential market, there are opportunities in commercial real estate,” said Jarvis. “Cape Horn Group was a pleasure to work with, making the transaction process very smooth.”

Russ Cora of Cape Horn Group represented the seller.

The LaSalle Wacker sales center is open 9 a.m. to 6 p.m. Monday through Friday. For more information or to schedule a personal tour, call 312-962-1112 or visit www.thelasallewacker.com.

About The LaSalle Wacker
Overlooking the river in Chicago’s central business district, The LaSalle Wacker offers individually owned office suites, similar to office condominiums but with the added flexibility of expanding or reducing space without zoning changes or association approvals. Purchased in 2006 by an affiliate of Cape Horn Group, the 41-story, 414,000-square-foot art deco building features a prime location with expansive waterfront and skyline views. Recently introduced capital improvements and amenities include upgraded elevators, a touch-screen lobby directory, a building concierge, extended fitness center hours, and car washing in the building’s parking garage. More information is available from the sales center at (312) 962-1112 or www.thelasallewacker.com.

About Cape Horn Group
Formed by veteran investment bankers, Cape Horn Group is a national real estate development company specializing in acquiring commercial properties that can be upgraded and repositioned to increase their value. The firm pioneered the office condominium concept in Miami and opened a Chicago sales office in 2007 after acquiring two premier riverfront properties — 55 West Wacker and The LaSalle Wacker. The company continually looks for opportunities to expand its presence with the support of a strong national and international investor base.