CHICAGO — JLL Capital Markets has arranged a $153 million loan for the refinancing of 123 North Wacker, a 33-story office tower in Chicago’s central business district. The 550,000-square-foot building is situated in the West Loop submarket. The property has undergone more than $33 million in capital improvements over the past few years, including a reimagined lobby, a new tenant lounge and barista bar. Additional amenities include a conference center, fitness center, bike room and private rooftop terrace. The occupancy rate was not disclosed, but the property is home to 36 tenants. Keith Largay and Lucas Borges of JLL arranged the five-year, floating-rate bridge loan on behalf of the borrower, LaSalle Investment Management’s Income & Growth Fund Series. Mesa West Capital provided a $37 million mezzanine loan. LaSalle has owned the building since early 2017.
