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 .
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