CHICAGO-Zeller Realty Group is planning to list one of its Michigan Avenue towers in the market for sale. The company has plans to sell 500 N. Michigan Ave., a 24-story office tower measuring 322,443 square feet, after Labor Day.
Zeller purchased the skyscraper in September 2006 for $49 million, or about $152 per square foot. A market source has declared that the high-rise could fetch between $70 million and $80 million. New York-based Eastdil Secured LLC is marketing the property for Zeller. For the full story, go to Crain's Chicago Business .
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