Transactions - SEPTEMBER 4, 2014

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

LaSalle buys Chicago office property for $210m

by Andrea Waitrovich

LaSalle Investment Management has acquired 101 N. Wacker Drive from Hines Interests on behalf of client Bayerische Ärzteversorgung. The official announcement did not disclose a sales price; however, it is estimated to be approximately $210 million or $340 per square foot.

The acquisition is part of a €500 million ($647 million) global real estate mandate  BVK awarded LaSalle last year.

The 24-story building is at the intersection of Wacker Drive and Washington Street, near Ogilvie Transportation Center, a primary transportation hub connecting downtown Chicago with the surrounding suburbs.

Hines acquired the 600,000 square-foot office asset in 2007 for $129.5 million. The firm invested $12 million in renovations, which included an updated lobby, the addition of a

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy