CHICAGO — The Chicago office of Hines, the international real estate firm, announced that a subsidiary of the firm’s U.S. Office Value Added Fund II sold its 101 North Wacker, a 24-story, 600,000-square-foot office tower in Chicago, to an affiliate of LaSalle Investment Management on behalf of a European investor. Hines was advised by JLL on the transaction.
Starling Cousley, managing director with the U.S. Value Added Fund team, said, “Having acquired 101 North Wacker in 2007, we have since completed a substantial repositioning of the property and fully executed our original investment strategy. We are very proud of the performance we’ve been able to achieve for our investors.”
Completed in 1980, the Class A office tower was designed by the architecture firm Perkins + Will.