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

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

CHICAGO, Oct. 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. Constructed 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 (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.