S. Korean Investor Drops $218M On Chicago Office Tower

Law360, New York (May 17, 2013, 7:46 PM EDT) -- South Korea-based real estate investor Mirae Asset Global Investments Co. Ltd. entered the Chicago market Thursday with the $218 million purchase of 225 W. Wacker St., broker Jones Lang LaSalle Inc. said in a statement.

An entity known as 225 West Wacker Acquisition Co. sold the 31-story office tower in the West Loop submarket to Mirae, which secured $115 million in financing through Jones Lang LaSalle from Principal Real Estate Investors and Allianx Real Estate of America.

The 650,812-square-foot property is 91 percent leased to tenants...
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