Parkway Properties Inc. recently announced the purchase of One Illinois Center, a 1 million-plus-square-foot office building with an attached four-level structured parking garage in Chicago.

The value of the transaction was $198 million.

The property is located at 111 East Wacker Drive in the East Loop sub-market of Chicago.

Parkway anticipates spending $3.7 million on building improvements.

Parkway Properties Inc., a member of the S&P Small Cap 600 Index, is a self-administered real estate investment trust focused on the southeastern and southwestern United States and Chicago.

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