Ameritus Real Estate Investment Management closed on its deal to buy the LaSalle-Wacker Building for $118.5 million. Chicago-based Ameritus bought the historic Downtown office tower at 121 West Wacker Driver from Sterling Bay, a deal that was first reported as having a sale price near $120 million. The sale closed […]
Co-working firm Level Office bought three floors of a Wacker Drive building where it already has offices, expanding its space in Chicago to more than 250,000 square feet. Chicago-based Level Office paid $4.5 million on Jan. 19 for the sixth, eighth and ninth floors of the 18-story tower at 211 […]
Chicagoans enjoy The Jetty, one of three Riverwalk rooms that opened to the public on Saturday. Located between Wells and Franklin Streets, The Jetty will offer fishing and interactive learning for children about the ecology of the Chicago River. (Click on images to view larger versions.) While city and civic […]
NAI Hiffman is pleased to announce that Michael Flynn, Executive Vice President, and Jason Wurtz, Senior Vice President with NAI Hiffman’s Office Services group, recently completed four new lease transactions at 2201-2231 Lakeside Drive in Bannockburn, Illinois. The four leases bring the building from 56% occupied to 81% since being […]
Demand has increased in recovering downtown office markets, with a lack of available space forcing investors to put in high bids for even class-B and class-C office towers. Older office buildings in cities including Chicago, Los Angeles and Miami are being bought for above their replacement costs, with conversion plans that […]
Office condominiums have never taken hold in the U.S. as they have in Europe and Asia, even during periods when rental rates have risen rapidly. Owning office space can save companies money in the long-term, but buying requires large upfront costs. Most American companies would rather use that money for […]
“A venture of Ameritus Real Estate Investment Management and Boston-based Alcion Ventures paid $24.75 million for 213 W. Institue Place in River North. Photo from CoStar Group” A River North loft building sold for almost $25 million to a buyer who expects to capitalize on rising rents in the city’s […]
Public relations firm Henson Consulting is moving its headquarters in April as it plans to double its staff of 25 in the next year, said founder and CEO Kathleen Henson. Henson Consulting signed a seven-year lease for 7,180 square feet in the 23-story office tower at 205 W. Wacker Drive, […]
New amenities, new approach; change is coming to 205 West Wacker. Discover the convenience of brand new on-site amenities, upgraded office space, riverside views and ideal location straddling River North and the Central Loop – all available at 205 West Wacker. Coming soon: • Building fitness center • Conference Facilities • Lobby […]
Office vacancy fell during the third quarter in downtown Chicago, reaching its lowest point since mid-2009, after six consecutive quarters of virtually flat leasing.
Overall vacancy rate fell to 14.7 percent during the quarter, down from 14.9 percent in each of the previous three quarters and 14.8 percent in the third quarter of 2012, according to commercial real estate firm CBRE Inc. Law firms and other professional services firms have been reducing their space in recent years, while tenants such as technology firms fill the void with continued growth.