The 16-story, 524,784-sf Congress Center was built in by Steven Fifield in 2000 and is 85% leased to U.S. General Services Administration, US Department of Treasury, North American Company for Life and Health Insurance, AKZO Nobel, GE Employers Reinsurance Corp., Amtrak, and Institute of Food Technologists.
Mark Strauss of Cohen Financial's Newport Beach, CA, office originated the loan but got help on the local market from Steve Roth and Adam Levinson of the company's Deerfield office.
"Congress Center is one of the most ingenious and successful development projects to be built in Chicago in the last 10 years," Roth says. "The West Loop submarket, in which Congress Center is located, has a vacancy rate of 10.5% and continues to establish itself as one of the most stable and safest markets in Chicago."
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