Lend Lease had no other details about its Chicago asset, which was built on speculation, as well as another property in Seattle being marketed for sale. However, a published report claims the building's availability on the market comes after unsolicited offers are made.
A sale would result in the largest Downtown office deal in more than a year. Two recent office sales—the $239-million sale of 181 W. Madison St. and $248-million sale of 500 W. Monroe St.--have cracked the $250 per sf mark. The recently finished UBS Tower would be worth at least $425 million at that rate.
Published net lease rates at UBS Tower range from $24 per sf to $32 per sf.
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