CHICAGO-MetLife Inc., an insurance company based in New York, has agreed to buy a 16-story office tower measuring 372,000 square feet at 550 W. Washington Blvd. for $112 million or $301 per square foot. The seller of the property is Beacon Capital Partners LLC who bought it in 2006 as part of a four-property purchase. Eastdil Secured LLC is handling the sale of the office building.
The property has a leasing rate of over 93% with CME Group Inc. occupying a 244,455-square-foot space. For the full story, go to Crain's Chicago Business .
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