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Transactions - MARCH 21, 2016

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LaSalle to acquire Chicago office asset for $570m

by Andrea Waitrovich

LaSalle Investment Management is in talks to acquire the AMA Plaza in Chicago for $570 million, according to Real Capital Analytics. The sellers are Five Mile Capital Partners and Riverview Realty Partners, formerly known as Prime Group Realty Trust and now owned by Five Mile Capital Partners.

The office space at 330 N. Wabash is 95 percent leased. Tenants include the American Medical Association, Perkins +Will, ContextMedia, and Latham & Watkins.

The deal follows Chicago’s 2015 record year, which saw more than $22 billion in transaction volume, a 44 percent year-over-year change. The city continued to maintain its third place standing in RCA’s Top Markets of 2015, which it has held since 2009.

Thus far this quarter, 31 office properties in Chicago have been sold for a total of more than $1.7 billion in sales price.

Another high-priced Chicago deal this year was between CyrusOne and CME Group. CyrusOne is in contracts to purch

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