SEB To Sell Michigan Avenue Office Tower

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SEB bought the 661,477-square-foot
building at 150 N. Michigan Ave.
in 1999 for approximately $113.2 million.

CHICAGO-The 41-story office building at 150 N. Michigan Ave. will have a new owner soon. Frankfurt, Germany-based SEB Asset Management AG, the property owner, has tapped Jones Lang LaSalle Inc. of Chicago to sell the office tower.

The Crain's Chicago Business publisher, Crain Communications Inc. will take 65,587 square feet in the high-rise in March. The tower, which is nearly 77% leased, will be named the Crain Communications Building. SEB bought the 661,477-square-foot building in 1999 for approximately $113.2 million. For the full story, go to Crain's Chicago Business .

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Categories: Midwest, Office, Acquisitions/Dispositions, Sales, Scope, Chicago