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Hearn Closes $136M Buy of 55 W. Monroe

CHICAGO-The 40-story building, formerly known as the Xerox Center, is about 75% leased with up to five full floors available. Stephen Hearn said it’s a good time to reinvest in the city.

By Robert Carr | Updated on January 11, 2012

CHICAGO-The Hearn Co. has closed the purchase of the 40-story 55 W. Monroe office here for $136 million. LaSalle Investment Management, a division of Jones Lang LaSalle, sold the property, formerly known as the Xerox Center.

Sources say the building is about 75% leased, with tenants including Troutman & Sanders and the Financial Industry Regulatory Authority. LaSalle purchased the 803,000-square-foot building in August 2003 for $92 million. Helmut Jahn designed the building in 1980.

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