Transactions - JUNE 1, 2015

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Chicago office building trades for $344m

by Andrea Waitrovich

Harbor Group International and its partners, Clal Insurance and Image Capital, have sold the One South Wacker office building in Chicago to John Hancock Realty Advisers for $344 million.

One South Wacker is a 40-story, 1.2 million-square-foot institutional-quality office building located at the corner of Madison Street and Wacker Drive. Amenities include a 135-space parking garage, fitness center, casual dining, the Lloyd’s restaurant, convenience store and bank. The property is currently 86 percent leased to more than 40 office and retail tenants. Major tenants include McGladrey, Serendipity Labs and Fannie Mae.

The previous owners, which paid $221 million for One South Wacker in 2012, renovated the lobby, elevator cabs, common corridors and restrooms.  

Chicago has seen some big deals recently. The sale follows Sterling Bay Cos.’s

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