CHICAGO — GLL Real Estate Partners has purchased 550 W. Adams, an 18-story office building in the West Loop area of downtown Chicago. The seller was SEB Asset Management, an established Frankfurt, Germany-based real estate manager, which had owned the property since it opened in 2006. The purchase price was undisclosed, but Crain’s Chicago reports that the office tower sold for $185 million. The 483,677-square-foot tower is currently 94 percent leased and is anchored by the global headquarters of USG Corp., a producer of high performance buildings systems. Other major tenants include the law firm of Lewis, Brisbois, Bisgaard & Smith LPP, healthcare provider Humana HealthPlan and JP Morgan, which recently renewed its lease and, like USG, will remain a tenant on a long-term lease.
550 W. Adams is an 18-story office building located in the West Loop area of downtown Chicago.
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