European investment co. buys stake in Chicago property

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Atlanta-based WestWind Capital Partners, on behalf of KanAm Grundinvest Fonds, has acquired a 90 percent interest in a 503,000-square-foot office building in Chicago. The value of the transaction was not disclosed. The Andalex Group sold its interest in the property, located at 444 North Michigan Ave. Andalex will retain a 10 percent stake in the property, as well as leasing and management responsibilities. WestWind and Andalex directly negotiated the transaction. The property lists tenants such as media and entertainment giants AT&T, Viacom, National Cable Communications, Google, 20th Century Fox Film and law firm Shefsky & Froehlich. Michigan Avenue retail tenants include Delmonico's, Starbucks and Payless Shoes' flagship store. 444 North Michigan is undergoing a $2 million renovation of the building's lobby and façade. WestWind Capital Partners is a privately held real estate investment advisory firm. KanAm Grundinvest Fonds (The Fund) is a Euro-denominated open...