HomeDiagramsDatabaseMapsForum About
     

Go Back   SkyscraperPage Forum > Discussion Forums > Buildings & Architecture > Completed Project Threads Archive


 

 
Thread Tools Display Modes
     
     
  #2341  
Old Posted Dec 28, 2021, 3:40 PM
Kngkyle Kngkyle is offline
Registered User
 
Join Date: Jul 2006
Location: Chicago
Posts: 2,816
Quote:
Chicago Office Tower Valued at Over $1 Billion in Purchase by Oak Hill Advisors

A venture led by Oak Hill Advisors has agreed to buy a controlling interest in a new 55-story office tower in Chicago in the latest sign that investors are paying up for modern, amenity-rich office buildings despite uncertainty over the return-to-office.

Oak Hill has agreed to buy 110 North Wacker Drive from Howard Hughes Corp. in a deal that values the 1.5-million-square-foot skyscraper at more than $1 billion, according to people familiar with the matter. That would be the highest price paid for a Chicago property building since the beginning of the pandemic.
https://www.wsj.com/articles/chicago...rs-11640692801

And from 2019, when the building was first listed for sale -

Quote:
The skyscraper will cost around $722 million to build, and the joint venture developing the property increased its construction loan in May to $558 million, according to Howard Hughes' second-quarter earnings report. Howard Hughes guarantees around $100 million of that loan, the report said.

https://www.chicagobusiness.com/comm...looks-cash-out
Pretty good return there.
     
     
  #2342  
Old Posted Dec 29, 2021, 12:54 AM
rivernorthlurker rivernorthlurker is offline
Registered User
 
Join Date: Dec 2018
Location: Chicago
Posts: 927
Quote:
Originally Posted by Kngkyle View Post
https://www.wsj.com/articles/chicago...rs-11640692801

And from 2019, when the building was first listed for sale -



Pretty good return there.
Awesome news for benchmarking the value of Chicago Class A office space. Hopefully this can be a green light and vote of confidence for any developers waiting in the wing to start that next billion dollar tower...
     
     
  #2343  
Old Posted Jan 23, 2022, 9:57 PM
beeneverywheretwice beeneverywheretwice is offline
Registered User
 
Join Date: Jun 2008
Posts: 7
The name "Bank of America" is at the top of the building.
     
     
End
 
 
 

Go Back   SkyscraperPage Forum > Discussion Forums > Buildings & Architecture > Completed Project Threads Archive
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 12:05 PM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2022, vBulletin Solutions, Inc.