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Old Posted Jan 3, 2022, 9:33 PM
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Join Date: Jun 2018
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^ Story in Crain's now too: https://www.chicagobusiness.com/comm...0-million-loan

Quote:

The New York developer that turned the dilapidated Old Post Office into a modern office building and has nearly filled it with tenants has refinanced the behemoth with one of the largest loans ever for a Chicago office building.

A venture led by 601W last month took out an $830 million mortgage from JPMorgan Chase on the cavernous property at 433 W. Van Buren St., according to Cook County property records. The loan replaces $611 million in debt the developer borrowed for the property in mid-2019, according to property records and Bloomberg data tied to the 2019 mortgage, which was packaged with other loans and sold off to commercial mortgage-backed securities investors.
Quote:
After inking recent deals with heavy-duty tool maker Milwaukee Tool and health care management consultant Vizient, the building is now about 95% leased, according to leasing brokerage Telos Group.
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