{"id":1004103370,"date":"2014-09-05T10:22:47","date_gmt":"2014-09-05T18:22:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004103370"},"modified":"2022-12-07T23:20:49","modified_gmt":"2022-12-08T07:20:49","slug":"lasalle-investment-acquires-chicagos-101-n-wacker-from-hines","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/","title":{"rendered":"LaSalle Investment Acquires Chicago\u2019s 101 N. Wacker from Hines"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<div id=\"attachment_100410\" style=\"width: 184px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-100410\" data-attachment-id=\"1004103371\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/101-north-wacker-drive\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/101-North-Wacker-Drive.jpg\" data-orig-size=\"504,865\" 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=\"101 North Wacker Drive\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/101-North-Wacker-Drive.jpg?w=504\" class=\"size-medium wp-image-1004103371\" alt=\"101 North Wacker Drive\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/101-North-Wacker-Drive.jpg\" width=\"174\" height=\"300\" \/><p id=\"caption-attachment-100410\" class=\"wp-caption-text\">101 North Wacker Drive<\/p><\/div>\n<p>LaSalle Investment Management, acting on behalf of client Bayerische \u00c4rzteversorgung, the Bavarian doctors\u2019 pension fund, has snapped up the office tower at 101 N. Wacker Dr., in Chicago\u2019s coveted West Loop submarket. LaSalle purchased the 600,000-square-foot building from Hines Interests LP, which had acquired the property through its Hines U.S. Office Value Added Fund II L.P. in 2007 for $129.5 million.<\/p>\n<p>Originally developed in 1980 by Fifield Cos., 101 N. Wacker has maintained its sheen over the years through a series of upgrades, including a recent $12 million building renovation and a $27 million rebuild of a majority of the tenant suites. Ninety percent leased, the building is home to the likes of consulting firm Segal Co., railcar owner and manager TTX Co. and YMCA.<\/p>\n<p>\u201c101 North Wacker represents an exceptional investment opportunity for our client, given the property\u2019s strong credit tenancy under long-term leases and its strategic northern location on Wacker Drive in Chicago\u2019s West Loop,\u201d David Schreiber, managing director of acquisitions at LaSalle, noted in a prepared statement.<\/p>\n<p>LaSalle has tapped commercial real estate services firm JLL to oversee leasing at 101 N. Wacker. And Hines will maintain a connection to the property by staying on as manager.<\/p>\n<p>While LaSalle and Hines are remaining mum on the dollar signs attached to the transaction, recent investment sales activity hints at substantial price tags for office properties in the Chicago central business district. In the second quarter of the year, four properties sold for an average of $200 per square-foot, according to a report by JLL. Third quarter transactions include Hearn\u2019s $375 million joint venture acquisition of the 1.4 million-square-foot Three First National Plaza office tower and Clal Insurance\u2019s $112 million purchase of the Harper Court mixed-use office and retail complex for $112 million. And Irvine Co. shelled out a whopping $850 million for the 1.3 million-square-foot tower at 300 N. LaSalle in what the real estate community is calling the largest single-building office transaction in Chicago history.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LaSalle Investment Management has snapped up the office tower at 101 N. Wacker Dr., in Chicago\u2019s coveted West Loop submarket. <\/p>\n","protected":false},"author":969,"featured_media":1004103371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21783,21742,21747],"tags":[],"class_list":["post-1004103370","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chicago","category-investment","category-latest","category-office"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>LaSalle Investment Acquires Chicago\u2019s 101 N. Wacker from Hines - 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\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LaSalle Investment Acquires Chicago\u2019s 101 N. Wacker from Hines\" \/>\n<meta property=\"og:description\" content=\"LaSalle Investment Management has snapped up the office tower at 101 N. Wacker Dr., in Chicago\u2019s coveted West Loop submarket.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/\" \/>\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=\"2014-09-05T18:22:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T07:20:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/101-North-Wacker-Drive.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"504\" \/>\n\t<meta property=\"og:image:height\" content=\"865\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\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\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"LaSalle Investment Acquires Chicago\u2019s 101 N. Wacker from Hines\",\"datePublished\":\"2014-09-05T18:22:47+00:00\",\"dateModified\":\"2022-12-08T07:20:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/\"},\"wordCount\":342,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/09\\\/101-North-Wacker-Drive.jpg\",\"articleSection\":[\"Chicago\",\"Investment\",\"News\",\"Office\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/\",\"name\":\"LaSalle Investment Acquires Chicago\u2019s 101 N. Wacker from Hines - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/09\\\/101-North-Wacker-Drive.jpg\",\"datePublished\":\"2014-09-05T18:22:47+00:00\",\"dateModified\":\"2022-12-08T07:20:49+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/09\\\/101-North-Wacker-Drive.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/09\\\/101-North-Wacker-Drive.jpg\",\"width\":504,\"height\":865},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"LaSalle Investment Acquires Chicago\u2019s 101 N. Wacker from Hines\"}]},{\"@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\\\/d1edda962dd3af55af8a203870f9fc32\",\"name\":\"Barbra Murray\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"caption\":\"Barbra Murray\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/barbra-murray\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"LaSalle Investment Acquires Chicago\u2019s 101 N. Wacker from Hines - 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\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/","og_locale":"en_US","og_type":"article","og_title":"LaSalle Investment Acquires Chicago\u2019s 101 N. Wacker from Hines","og_description":"LaSalle Investment Management has snapped up the office tower at 101 N. Wacker Dr., in Chicago\u2019s coveted West Loop submarket.","og_url":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2014-09-05T18:22:47+00:00","article_modified_time":"2022-12-08T07:20:49+00:00","og_image":[{"width":504,"height":865,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/101-North-Wacker-Drive.jpg","type":"image\/jpeg"}],"author":"Barbra Murray","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/"},"author":{"name":"Barbra Murray","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"headline":"LaSalle Investment Acquires Chicago\u2019s 101 N. Wacker from Hines","datePublished":"2014-09-05T18:22:47+00:00","dateModified":"2022-12-08T07:20:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/"},"wordCount":342,"commentCount":0,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/101-North-Wacker-Drive.jpg","articleSection":["Chicago","Investment","News","Office"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/","url":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/","name":"LaSalle Investment Acquires Chicago\u2019s 101 N. Wacker from Hines - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/101-North-Wacker-Drive.jpg","datePublished":"2014-09-05T18:22:47+00:00","dateModified":"2022-12-08T07:20:49+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/101-North-Wacker-Drive.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/101-North-Wacker-Drive.jpg","width":504,"height":865},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/lasalle-investment-acquires-chicagos-101-n-wacker-from-hines\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"LaSalle Investment Acquires Chicago\u2019s 101 N. Wacker from Hines"}]},{"@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\/d1edda962dd3af55af8a203870f9fc32","name":"Barbra Murray","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","caption":"Barbra Murray"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/09\/101-North-Wacker-Drive.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004103370","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\/969"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004103370"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004103370\/revisions"}],"predecessor-version":[{"id":1004615868,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004103370\/revisions\/1004615868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004103371"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004103370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004103370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004103370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}