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CHICAGO Ð Financing of $14.1 million has been arranged for the 208,850 sf 55 W. Wacker Dr. building located in the cityÕs CBD. The loan was a five-year, fixed rate mortgage placed with GE Financial Assurance, a correspondent of Baird & Warner Real Estate Capital LLC, which arranged the loan. Built in 1968, the 16-story, Class B. multi-tenant office building was rehabbed in 1987 and is 96% leased.

Michael L. Miller, principal, B&W Real Estate Capital, arranged the loan with cooperating broker William T. Barry of Draper & Kramer. “The downtown office leasing market remains strong with tight vacancy rates,” says Miller. “We expect rents to continue their steady rise for the next 24 to 36 months.”

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