{"id":1004054878,"date":"2012-12-10T07:40:26","date_gmt":"2012-12-10T15:40:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004054878"},"modified":"2020-05-12T02:13:07","modified_gmt":"2020-05-12T10:13:07","slug":"harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/","title":{"rendered":"Harbor Buys Chicago\u2019s One South Wacker for $221M, Plans Upgrades"},"content":{"rendered":"<p><em>By Scott Baltic, Contributing Editor <\/em><\/p>\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004054879\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/one-south-wacker\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg\" data-orig-size=\"353,585\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"One South Wacker\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg?w=353\" class=\"alignleft size-medium wp-image-1004054879\" title=\"One South Wacker\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg\" alt=\"\" width=\"181\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg 353w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg?resize=181,300 181w\" sizes=\"auto, (max-width: 181px) 100vw, 181px\" \/><\/a><\/p>\n<p>Affiliates of Harbor Group International, of Norfolk, Va., have acquired One South Wacker, a 40-story, 1,195,000-square-foot Class A office building in Chicago\u2019s West Loop, for $221 million, HGI announced Friday. The transaction closed the previous day.<\/p>\n<p>HGI\u2019s major investment partner in the property is Clal Insurance Co., one of the largest insurers in Israel. (HGI maintains an office in Tel Aviv.) Among Clal\u2019s subsidiaries is Guard Insurance Group, of Wilkes-Barre, Pa., which specializes in insurance for small- and mid-sized businesses nationwide.<\/p>\n<p>The building\u2019s website identifies TIAA-CREF as the owner and Jones Lang LaSalle as the leasing and management agent. Eastdil Secured was the seller\u2019s broker.<\/p>\n<p>One South Wacker was designed by Helmut Jahn and completed in 1982 by the Walken Co. Its amenities include a 135-car parking garage, fitness center, casual dining and an upscale restaurant. The property\u2019s tiered setback design gives it three distinct floorplates, ranging from 26,000 to 37,000 square feet. It\u2019s currently 80 percent leased to more than 40 office and retail tenants.<\/p>\n<p>&nbsp;<\/p>\n<p>A $10 million\u2013plus capital improvement program for One South Wacker has already been sketched out, with the goal of enhancing tenant retention and leasing efforts, HGI president T. Richard Litton Jr. told <em>Commercial Property Executive<\/em>. Much of that will focus on improvements to the lobby and atrium winter garden, the street-level presence and the building entrances, with enhancements to elevator cabs and common corridors in addition.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cWe also believe that a tenant conference center, which we will add, is a missing and much-needed tenant amenity at the property,\u201d Litton said. The conference facility will be joined on the mezzanine level by a health and wellness center and a tenant lounge overlooking the entry atrium.<\/p>\n<p>Litton emphasized that the capital program \u201cis almost exclusively value-add in nature, as opposed to deferred maintenance or building system repairs.\u201d<\/p>\n<p>HGI also owns several other office towers in downtown Chicago: 300 South Wacker (512,500 square feet), 111 West Washington (580,000 square feet) and 2 North LaSalle (715,000 square feet).<\/p>\n<p><strong>Like us on facebook:<\/strong><em> <a title=\"Commercial Property Executive\" href=\"https:\/\/www.facebook.com\/pages\/Commercial-Property-Executive\/258033884191\"> https:\/\/www.facebook.com\/pages\/Commercial-Property-Executive\/258033884191<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Affiliates of Harbor Group International, of Norfolk, Va., have acquired One South Wacker, a 40-story, 1.2 million-square-foot Class A office building in Chicago\u2019s West Loop, for $221 million.<\/p>\n","protected":false},"author":882,"featured_media":1004054879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,11,21742,21747],"tags":[],"class_list":["post-1004054878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-midatlantic","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Harbor Buys Chicago\u2019s One South Wacker for $221M, Plans Upgrades - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Harbor Buys Chicago\u2019s One South Wacker for $221M, Plans Upgrades\" \/>\n<meta property=\"og:description\" content=\"Affiliates of Harbor Group International, of Norfolk, Va., have acquired One South Wacker, a 40-story, 1.2 million-square-foot Class A office building in Chicago\u2019s West Loop, for $221 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-12-10T15:40:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-12T10:13:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"353\" \/>\n\t<meta property=\"og:image:height\" content=\"585\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/\",\"name\":\"Harbor Buys Chicago\u2019s One South Wacker for $221M, Plans Upgrades - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg\",\"datePublished\":\"2012-12-10T15:40:26+00:00\",\"dateModified\":\"2020-05-12T10:13:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg\",\"width\":\"353\",\"height\":\"585\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Harbor Buys Chicago\u2019s One South Wacker for $221M, Plans Upgrades\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Harbor Buys Chicago\u2019s One South Wacker for $221M, Plans Upgrades - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/","og_locale":"en_US","og_type":"article","og_title":"Harbor Buys Chicago\u2019s One South Wacker for $221M, Plans Upgrades","og_description":"Affiliates of Harbor Group International, of Norfolk, Va., have acquired One South Wacker, a 40-story, 1.2 million-square-foot Class A office building in Chicago\u2019s West Loop, for $221 million.","og_url":"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2012-12-10T15:40:26+00:00","article_modified_time":"2020-05-12T10:13:07+00:00","og_image":[{"width":353,"height":585,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/","url":"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/","name":"Harbor Buys Chicago\u2019s One South Wacker for $221M, Plans Upgrades - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg","datePublished":"2012-12-10T15:40:26+00:00","dateModified":"2020-05-12T10:13:07+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg","width":"353","height":"585"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/harbor-buys-chicagos-one-south-wacker-for-221m-plans-upgrades\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Harbor Buys Chicago\u2019s One South Wacker for $221M, Plans Upgrades"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2012\/12\/One-South-Wacker.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004054878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004054878"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004054878\/revisions"}],"predecessor-version":[{"id":1004436604,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004054878\/revisions\/1004436604"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004054879"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004054878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004054878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004054878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}