Lender seizes Chicago Board of Trade Building, betting on a Loop resurgence: The move adds to the wave of distress plaguing older office buildings along the LaSalle Street corridor.

A joint venture of Chicago-based Glenstar and Los Angeles-based private-equity firm Oaktree Capital Management last month transferred the 44-story office building at 141 W. Jackson Blvd. to an Apollo-led venture that provided the senior loan tied to the property, according to Cook County property records. New York investment giant Apollo Global Management has taken control of the Board of Trade Building in the Loop and hired a Chicago developer to try to inject new life into the distressed landmark tower. [Extracted from the article]