WP Carey Purchased South Loop School for $70.6 Million
The British International School will continue to occupy its South Loop campus under a long-term lease agreement.
Updated on Oct. 12, 2026 in Commercial
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WP Carey has acquired the British International School campus at 901 South Clark Street for $70.6 million. The school operator, which has occupied the site since it opened in 2015, maintains a long-term lease at the property.
Why it matters
This transaction reflects a significant change in ownership for a prominent South Loop educational facility. The sale marks a substantial increase in valuation for the site, which previously traded for $8 million in 2014.
The campus at 901 South Clark Street sold for $70.6 million, a major shift from its $8 million valuation when McCaffrey Interests sold the land to EPR Properties in 2014. The school continues to operate at the site under an existing long-term lease.
The players
WP Carey
A New York-based real estate investment trust that specializes in corporate real estate and long-term net lease properties.
EPR Properties
A Kansas City-based specialty real estate investment trust that focuses on experiential properties like schools and theaters.
British International School
A private school operator providing international curriculum education at its South Loop campus since 2015.
McCaffrey Interests
A Chicago-based real estate investment and development firm involved in the original 2014 sale of the campus site.
The details
The transaction involved a transfer of property ownership from Kansas City-based EPR Properties to New York-based investor WP Carey. Despite the change in ownership, the British International School maintains its occupancy through a long-term lease agreement. This structure allows the school to keep its operations in the South Loop uninterrupted.
Timeline
2014: McCaffrey Interests sold the property to EPR.
2015: The British International School campus opened.
Week of October 12, 2026: WP Carey purchased the campus.
The Home Front
The acquisition follows the broader market trend of institutional investors favoring net lease properties with long-term, stable tenants like private schools. This shift underscores the high valuation of specialized educational facilities within urban real estate markets.
Residents in the South Loop can expect the school to continue its standard operations at 901 South Clark Street under the new ownership. No changes to the school's services or community access are anticipated as a result of this financial transaction.
The takeaway
This multimillion-dollar transaction highlights the ongoing demand for established educational properties in Chicago's urban core. Families associated with the British International School should note that their facility remains under a secure long-term lease agreement.
Further reading
For more on local market shifts, visit the Chicago Commercial section.
Source note: This article includes information reported by The Real Deal New York.
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