How low can office values go?

We're not sure if the Guinness Book of World Records is keeping tabs on this, but a recent transaction in downtown Chicago may have some Windy City building owners heading for the local tavern to drown their sorrows with a Guinness and several shots of whiskey.

A 96-year-old landmark across the street from the Willis Tower has traded for $4M, slightly less than $16 per SF and nearly 90% than the last time it traded, for $38M in 2012.

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