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$5M Check Closes Books on HALO Building

NILES, IL-CenterPoint Properties Trust cashes a $4.8-million check as a result of a bankruptcy court claim marketing specialties company HALO, which had a short stay at the building at 5800 W. Touhy Ave. The money is on top of the $28 million it got by selling the 267,344-sf building designed by Helmut Jahn—at a cost of $63.5 million--to Evanston-based Shure, Inc.

By Mark Ruda | Updated on April 22, 2005

NILES, IL-By cashing a $4.8-million check, CenterPoint Properties Trust has closed the books on the former HALO headquarters at 5800 W. Touhy Ave. The payment was a result of bankruptcy court proceedings, where the REIT was a major player on the creditors’ committee.

CenterPoint Properties Trust built the 267,344-sf building designed by famed architect Helmut Jahn for $63.5 million for the marketing specialties company, which moved into the state-of-the-art office building in April 2001. However, HALO ultimately filed for Chapter 11 bankruptcy protection later that year following its $240-million investment in Starbelly.com, which failed.

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