"This is one of the finest-looking properties I've ever boughtin a sale-leaseback," says Inland Real Estate Acquisitions chairmanJoe Cosenza. "Driving up to these two black towers, with theirexcellent view of the Chicago skyline, is a breathtakingexperience."

Besides acquiring two high-profile buildings at $154 per sf thatare immediately 100% leased, the REIT has another reason for buyingan asset outside of the Western US and retail sector, Cosenza says."For us, it affords us a tremendously good stream of stable rentalincome," he says.

US Equities Realty's most recent market report pegs vacancy inthe Northwest suburban submarket at 24.8%, the worst outside of theEast-West Corridor. The deal comes days after the two-building,550,000-sf Meadows Corporate Center changed hands at just $84 persf. Chicago-based Golub & Co. and Boston-based IntercontinentalReal Estate Corp. paid a reported $46 million for the officebuildings at 2550 and 2850 W. Golf Rd. along the Northwest Tollwayin neighboring Rolling Meadows.