211 West Wacker
Ameritus acquired 211 West Wacker with a group of high net worth investors as a 150,000 square foot building in distress. At a 40% vacancy rate, the seller was unable to invest in the modernization of the building leading to further deterioration of occupancy. Due to the boutique size of the asset, its world class business address, and unobstructed views of the Chicago River, Ameritus’s repositioning plan included the conversion of the building into commercial condominiums, making it one of the first CBD office buildings in the City of Chicago to successfully be sold to multiple users as a vertical subdivision. In conjunction with the conversion, Ameritus implemented a lobby renovation, complete replacement of HVAC systems, and the addition of a green roof. The building is Silver LEED Certified and earned Ameritus the prestigious TOBY Award from BOMA in 2006-2007 for its excellence in management and renovation of the asset.