CHICAGO, IL- When Transwestern announced this week that they had just taken over leasing for the 16-story office tower at 525 West Van Buren, the firm's agents knew they had a challenge.
“This is really going to need a full-scale repositioning and marketing effort,” Executive Vice President Michael Lirtzman told GlobeSt.com. Lirtzman, along with Tamara Kos and Kristen Baker, will handle the leasing.
Known as Congress Center, the 522,000 SF building was in chaos last year. The owners' lenders claimed they were in default on a loan for the building and some tenants complained the owners owed them money. As a result, the vacancy rate went over 25 percent even though the building is only 11-years-old and stands in the downtown's hottest market for office space.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
