"We've become a one-building company," Gates said in aconference call Wednesday, when the largest industrial propertyowner in the market revealed it expects funds from operations of$3.94 to $4.06 per share in 2002. However, it would be $0.35 pershare, or 9%, higher without the HALO write-off.

Designed by renowned architect Helmut Jahn, the building in thisnorth suburb of Chicago was constructed for longstanding tenantHALO Industries, Inc., which moved into the new headquarters andwarehouse facility in 1998, when the marketing specialties companywas enjoying heady times. However, the company's $240-millionpurchase of Starbelly.com resulted in a write-off of more than 75%of its investment before HALO filed for Chapter 11 bankruptcyprotection. The company moved out of the building early lastmonth.

Gates says CenterPoint is exploring sale, lease and jointventure possibilities in hopes of disposing of the building nextyear. "It's too early to tell how that's going to happen," he adds.A lease, company officials admit, won't happen without considerableconcessions.