Nov
29
Macerich Snags $86M for Chicago Office Asset
ByLocated at 500 N. Michigan Ave., the 326,000-square-foot tower features 24 floors and last underwent cosmetic renovations in 2009. The property is situated adjacent to Macerich’s The Shops at North Bridge.
The Macerich Co. has completed the sale of an office building in Chicago for $86.4 million. The asset was unencumbered and wholly-owned by Macerich.
Located at 500 N. Michigan Ave., the 326,000-square-foot tower features 24 floors. Originally completed in 1967, the building underwent cosmetic renovations in 2009. The asset offers 55 parking spaces, floor plates ranging from 13,435 to 13,900 square feet, seven passenger elevators and 2,000 square feet of first floor retail…
