Hines sinks cash into Chicago high-rise

Property sold by European investment fund
Published on Apr 4, 2008

International real estate firm Hines this week announced that its U.S. Core Office Fund LP paid an undisclosed amount for One North Wacker, a 51-story office tower in downtown Chicago. Sold by a German investment fund managed by RREEF, the 1.4 million-square-foot building is located in the city's West Loop submarket. Completed in 2001, amenities include a 9,000-square-foot conference center and a health club facility. Parking is provided in a two-level, 230-space garage. At the time of sale, the property was 98 percent leased to tenants that included UBS, PricewaterhouseCoopers and Citadel.*** What's your opinion? Leave your comments below or send a letter to the editor. ...

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