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.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.