CHICAGO-The owners of a 540,676-square-foot office tower on Wacker Drive have negotiated a loan modification. The 30-story tower at 123 N. Wacker Drive failed to make its loan payments.
The property, which was valued at $173 million in 2005, is owned by 35 investors. It is crippled by a senior loan of $120 million and a B-note of nearly $14 million. Thompson National Properties LLC negotiated the modification of the two loans that total $135 million. For the full story, go to Crain's Chicago Business .
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