City: Chicago
LNR Provides $75Mln Mezz Loan for Chicago Offices; Could Prompt Sale
The Miami company's loan carries a rate of 15 percent and allows Prime Group to buy out its partner in a newly developed office tower in Chicago, making it easier for Prime to sell the 1.5 million-sf building.
JP Morgan to Sell 55 W. Monroe in Chicago for $95Mln
March 19, 2003 Chicago Tribune (Second Item)J.P. Morgan Chase &Co. has a non-binding agreement to sell 55 W. Monroe St. to Chicago-based Golub & Co. on behalf of an institutional investor, sources said. Golub's chairman and founder, Eugene Golub, co-developed ...
JP Morgan to Acquire 225 W. Wacker in Chicago for $145Mln
March 19, 2003 Chicago TribuneThe pension fund advisory unit of J.P. Morgan Chase & Co. will acquire 225 W. Wacker Drive in Chicago from a joint venture of developer Hines and the California Public Employees' Retirement System. The transaction values ...
Chicago Law Firm to Anchor Proposed Tower
March 18, 2003 Chicago TribuneChicago law firm Sidley Austin Brown & Wood LLP has agreed to become the anchor tenant in a proposed tower by Hines, a Houston development firm. Sidley would move to the future skyscraper on the southeast ...
Germans Put Burnett Building in Chicago on the Market
March 12, 2003Chicago TribuneHypoVereinsbank, the German financial institution that owns a majority stake in the Leo Burnett Building, is putting the trophy Wacker Drive tower in Chicago on the market. HypoVereinsbank, advised by Lend Lease Real Estate Investments Inc., is ...
Developer Plans Hotel Convention Center in Cleveland
March 11, 2003 Crain's ClevelandDeveloper Bart Wolstein is negotiating with Westin Hotels & Resorts to develop a 650-room convention center hotel on the northwest corner of Ontario Street and Broadway Avenue in Cleveland, where Wolstein has one of several proposals ...
Lehman Provides $195Mln of Debt for Chicago Offices
The investment bank wrote the large mortgage for One IBM Plaza, a 1.4 million-sf office building owned by Prime Group Realty. The loan carries a three-year term and pays a rate of 285 bp over Libor.
Former Head of First Union Real Estate May Lead Minneapolis REIT
March 7, 2003 Crain's ClevelandStonehaven Realty Trust, a small, ailing REIT from Minneapolis, may adopt a corporate repositioning plan from a group led by James Mastandrea, former head of First Union Real Estate Investment. The plan calls for Mastandrea's Paragon ...
Old Chicago Steel Plant May Become Retail Center
March 6, 2003 Chicago TribuneMetals distributor Ryerson Tull Inc., which last summer closed its steel processing facility at 8301 S. Stewart St. in Chicago, has a contract to sell the 50-acre site to Monroe Investment Partners LLC, which has plans ...
Union Labor Life Insurance Provides $40Mln for Chicago Apartment Tower
March 5, 2003 Chicago Sun Times (Fifth Item)Union Labor Life Insurance Co. has provided $40 million in debt for Steven Fifield's planned apartment tower at the southwest corner of Jefferson and Lake in Chicago.
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