Refco will relocate from 111 W. Jackson Blvd., next to the Chicago Board of Trade, later this year. "Refco had clearly defined needs for its new offices, including the highest-speed Internet access, 24/7 security, redundant power sources and a prestigious property," says Mark Goodman, president of his development company.

Besides being located near Chicago's futures trading exchanges, Goodman's building is located just west of Union Station as well as other commuter rail lines and expressways. Other amenities of the 420,000-sf building financed by a $53.75-million loan include nine-foot ceilings and a 12th-floor roof garden. However, leasing at 550 W. Jackson Blvd. has lagged behind most other new Downtown office developments. By comparison, The John Buck Cos.' 1.3-million-sf UBS Tower at 1 N. Wacker Dr. is 85% leased a month before its scheduled delivery date.

Kim Robare and John Dempsey of CB Richard Ellis represented Mark Goodman & Associates while Holly Duran and Doug Hawkins of the Levy Organization represented Refco.

To build its project, Mark Goodman & Associates Inc. removed a five-story, 108,000-sf building that had stood since 1962.