Midwest Regional Office

123 North Wacker
Chicago, Illinois

“ We are pleased to provide bridge financing on this project, which is one of the most attractive repositioning and lease up opportunities in the market given the excellent location and building quality. This transaction is an example of our ability to provide value-add financing with term and structure tailored to the sponsor’s specific renovation and leasing plan.”
—John Howard, Senior Director

  • Proceeds used to finance the acquisition, repositioning, and leasing of the property on behalf of LaSalle Income and Growth Fund VII
  • 4-year term
  • The sponsor’s three-year repositioning strategy includes substantial building system and mechanical upgrades, as well as amenity upgrades that will include lobby renovations, new fitness and conference centers, balcony and terrace improvements, common corridor/restroom renovations, and elevator cab upgrades
  • 30-story office building with a glass and granite curtain wall façade
  • Excellent location and prestigious Wacker Drive address at the nexus of Chicago’s West Loop and River North submarkets, as well as proximate to the Fulton Market district

Source: REI Midwest Regional Office, March 2017.