CRE N Illinois

Cushman & Wakefield marketing iconic Murphy Auditorium in River North for sale

Cushman & Wakefield marketing iconic Murphy Auditorium in River North for s,ph01

Cushman & Wakefield has been retained by the American College of Surgeons (ACS) for the sale of the iconic Murphy Auditorium, at 50 E. Erie Street, 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 French Renaissance style building now serves as a premier events space.

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.