Office N Illinois
Vintage Chicago high-rise hits the market

Vintage Chicago high-rise hits the market

One N. LaSalle Street, a 47-story Art Deco office building in Chicago’s Loop, is on the market. According to a report from Crain’s, the ownership group—a joint venture of Northbrook-based Hilco Real Estate and two MB Real Estate executives—hopes to sell the property for $125 million.

Office N Illinois
Chicago's next trophy office tower gets $665M construction loan

Chicago's next trophy office tower gets $665M construction loan

The 53-story, riverfront tower going up on the former GGP site moved closer to reality with a new round of construction financing. According to the Chicago Tribune, Howard Hughes Corp. and Riverside Investment & Development said that they have acquired a $495 million construction loan from a lending group including Bank of America and JPMorgan Chase to build the office tower at 110 N. Wacker Drive.

Office N Illinois
Naperville Corporate Center sells for $38 million

Naperville Corporate Center sells for $38 million

Holliday Fenoglio Fowler, L.P. (HFF) brokered the $38.725 million sale of Naperville Corporate Center, a four-building office portfolio totaling 420,540 square feet in Naperville, Illinois. The HFF team represented the seller, a joint venture between TriGate Capital, LLC and Pearlmark, and procured the buyer, Real Capital Solutions.

Office N Illinois
625 W. Adams (left) and 151 N. Franklin (right).

Chicago's CBD off to a slow start in 2018

The downtown Chicago office market was relatively flat in the first quarter of the year, according to a CBRE report. One main reason is corporations giving back space as they right-size their footprints. The CBD’s modest positive absorption last quarter—39,437 square feet—was driven by consulting, legal and wholesale trade tenants.