TIAA-CREF Venture Ponies Up $90M for 51,000-SF Retail Space
Get the Windy City's commercial news in your email with GlobeSt.com's Chicago AM Alert. Keep up with industry news, activities and profiles. Sign Up Today!
CHICAGO-A financial services firm has paid $89.9 million for the Palmolive Building retail space on North Michigan Avenue. A venture of TIAA-CREF, based in New York, purchased the 51,000-square-foot retail space at 919 N. Michigan Ave. last month. The property was sold by two affiliates of investor Ross Hilton Kemper.
The Kemper ventures purchased the retail space at the 37-story Palmolive building in summer 2005 for $54 million from Chicago-based Draper & Kramer Inc. For the full story, go to Crain's Chicago Business .
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
Interested in retail? Don't miss RealShare NET LEASE in New York on April 15-16.
You can now be notified via email if this story is updated by clicking on the "Follow this Story" link. You must be a registered member to take advantage of this "members only" benefit.