CHICAGO—HFF has just arranged financing for 401 N. Michigan Ave., the 35-story, class A office tower along the Chicago River. The firm worked exclusively on behalf of Zeller Realty Group, which bought the 758,131-square-foot building in 2001, to secure the five-year, floating-rate loan through New York-based Blackstone Mortgage Trust. Zeller officials say they will use the loan proceeds to enhance the property over the next three years. Although the amount was not disclosed, Cook County records show the loan from Blackstone was for $190 million.

Tenants lease 81% of the building, originally built in 1965, and include Kraft, the University of Chicago, MTV, and several family offices and fund managers. The Chicago-based Zeller plans to refurbish the lobby, build a fitness center, a street level restaurant, and a set of amenities on the 19th floor including a tenant lounge with Wi-Fi, fireplace, coffee station and boardrooms.

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