John Hancock Pays $102M For 41-Story Chicago Tower

Law360, New York (May 1, 2012, 6:21 PM EDT) -- The real estate investment arm of life insurance giant Manulife Financial Corp. has purchased a 41-story office building in downtown Chicago for $102 million from German fund manager SEB Investment GmbH, it said Monday, as the city's office market continues to show signs of recovery.

In a deal that closed Friday, John Hancock Real Estate acquired the 661,482-square-foot office tower at 150 N. Michigan Ave., known both as the Smurfit-Stone building and as the Crain Communications building for its major tenant, publisher of business and industry-specific...
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