The buyer is pension fund buyer RREEF, now owned by DeutscheBank, AG. Lend Lease and Buck put the asset on the market thissummer, less than a year after the 1.3-million-sf tower, 51-storyat 1 N. Wacker Dr. was completed. The property changes hands with92% of the space leased, with anchor tenant UBS joined byPriceWaterhouseCoopers, Merrill Lynch and Options ClearingCorp.


The John Buck Co., which already has started work on anotheroffice tower a short walk south on Wacker Drive, stays on asproperty manager.


Blake Johnson and Steve Livaditis of Eastdil Realty Co. brokeredthe deal, which is just one Downtown office sale that has been inthe works. Besides two Central Loop office buildings owned byMetropolitan Life that have generated significant interest, 311 S.Wacker Dr. also has been on the block.


Lend Lease Real Estate and The John Buck Co. put the building onthe market after receiving unsolicited offers for the property.

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