News
Chicago Commercial Real Estate

IBM Tower’s New $200M Lease on Life

Besides its iconic Mies van der Rohe architecture, the tower he designed for IBM in ’71 has an irresistible lure that recently qualified it for a $200M re-fi, says its landlord, Prime Group Realty Trust CEO Jeff Patterson (standing second from right, with his team). After nearly four years of repositioning, 330 N Wabash Ave (jointly owned with Five Mile Capital) has leased about 500k SF of offices, bringing it from 35% leased to 88%, Jeff tells us.

Star signatories: the AMA for 300k SF, Latham & Watkins for 143k SF, and Smith Bucklin for 111k SF. 

Continue reading this story with a free account

Log in or register
Related Topics: Five Mile Capital
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

ICE Pivot From Warehouse Plan Funnels Cash To Private Prison Owners

Blackstone Vice Chairman Tom Nides On Leadership And The Future Of CRE

Portillo's Lays Off Staff At Oak Brook HQ As It Slows Expansion

California Real Estate Exec Charged In Child-Safety Sting

CRE Leaders Stress Importance Of Adaptability As DFW Continues To Grow

Chicago's Apartment Pipeline Is Slowing, But This Lender Bets On Rehab Instead

NBC Tower Owner Mulls Conversion: The Chicago Deal Sheet

Inspectors, Building Officials Shrug Off Conversion Scares

MDNI Group Buys Santa Monica Apartments Out Of Receivership: The Los Angeles Deal Sheet

L3 Capital Snags Mag Mile Retail At A Discount

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes