chi-CentrumHubbardDevelopment (2) The 50K office portion is already 40% pre-leased.

CHICAGO—Chicago-based developer Centrum Partners has broken ground on a $100 million mixed-use development at Wells St. and Hubbard St. in the River North neighborhood. The property will include a 50,000-square-foot office building located 412 N. Wells St. and an adjoining 195-unit luxury apartment tower at 221 W. Hubbard St.

The office portion is already 40% pre-leased, a spokesperson tells GlobeSt.com. And with the River North vacancy rate hovering near 9.4%, one of the lowest rates in the region, the prospects for quickly leasing up the building seem quite good. Centrum officials say that mid-size users seeking marquee space in Chicago will find the nine-story boutique office building ideal.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.

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