Built in 1968 and rehabbed in 1987, the 208,849-sf office building is at the southwest corner of Wacker and Dearborn, immediately south of the Chicago River and one block north of the Loop El tracks. The new owners, 55 West Wacker Associates, LLC, bought the building from a land trust. Besides boasting a view of the Chicago River, the building also had a 96% occupancy rate.
Baird & Warner Real Estate Capital, which represents several other insurance company lenders in addition to GE Financial Assurance, arranged five-year, fixed-rate financing for 55 West Wacker Associates.
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