A joint venture with Centrum, Taconic Investment Partners and Angelo Gordon & Co. sold 600 W. Chicago and two other parking garages to a group of New York City private investors last month for reportedly $300 million, as reported by GlobeSt.com. Three leases for the building, which was constructed in 1908 as a distribution center for Montgomery Ward, were signed before the sale and were negotiated by Shields and Leslie Mader, also with Northern Realty Group, Shields says.

More information is now available about the retail leases. Japonais is expanding its restaurant 7,171 sf and will now have more than 19,000 sf, Shields says. They will be using the extra space to expand the bar and have party rooms. The term of the lease was not disclosed. Allyu, a day spa, has signed a 10-year lease for 6,315 sf and will open in the fall. Gateway News, a news and sundry shop, has signed a five-year lease for 400 sf. The asking lease rate for the building, before the sale to 600 West Chicago Associates LLC, was in the "mid 20's to 40's net," he says. There is about 85,000 sf of retail space in the 1.8 million sf building with about 85% of the retail space leased and about 1.3 million sf of the 1.5 million sf of office space leased, Shields says. Tenants include Banker's Life, Wrigley, Fox, Verizon, Level 3 and David Barton Gym.