Equity Office Properties already owns the four-building, 818,712-sf Presidents Plaza and 134,283-sf 1700 Higgins Centre. Those properties are 93% leased, generating $21 million a year in rent, according to the REIT's most recent financial report. Meanwhile, Equity Office Properties buys the five-year-old Pointe O'Hare with an 18% vacancy rate, but says lease deals in the works will cut that by more than half. Meanwhile, vacancy including sublease space in the O'Hare submarket is 23.2%, according to U.S. Equities Realty's most recent market report.
Asking lease rates at the 11-story building east of the Tri-State Tollway have started at $17.50 per sf.
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