JLL Completes Sale of 101 N. Wacker

CHICAGO—The sale to a European investor continues the flow of foreign capital into the metro area.

By Brian J. Rogal | Updated on September 09, 2014

CHICAGO—Foreign investment has been flowing into cities across the US, but Chicago remains one of the most popular with overseas investors. JLL, for example, has just completed the sale of the 24-story office tower at 101 N. Wacker Drive to LaSalle Investment Management on behalf of a European investor. According to Cook County records the price was $210 million. “Of the 10 buildings sold in downtown Chicago so far this year, five have now been purchased by off-shore investors, representing an investment of more than $845 million,” JLL officials say.

JLL international director Bruce Miller and senior vice president Nooshin Felsenthal handled the sale of the building on behalf of Houston-based Hines Interests LP, which had invested more than $12 million in recent years on improvements.

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