Tall & Urban News

Chicago Loop Office Tower Put for Sale with Hopes to be Bought by Tech Giant

© Nathaniel Lindsey
© Nathaniel Lindsey
04 August 2022 | Chicago, United States

Developer John Buck is putting his LaSalle Street office tower up for sale, testing whether investors will clamor to own property on the corridor now that the tech giant is planting its flag at the James R. Thompson Center.

It's the first major Loop office building to hit the market since Google's announced purchase of the James R. Thompson center, which could help re-establish LaSalle Street as a compelling corporate destination.

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Before Google made its splash, investors had largely soured on the prospect of buying outmoded office buildings in the heart of the city amid record-high vacancy. Recent interest rate hikes have made it even more expensive to finance an acquisition.

For more on this story, see Crain’s Chicago Business.