MetLife Pays $109M For Downtown Chicago Office Tower

Law360, New York (October 31, 2012, 11:28 PM EDT) -- Insurance giant MetLife Inc. has reportedly agreed to buy a 31-story office building in Chicago's West Loop from New York-based real estate company Tishman Speyer Properties LP for $109 million.

MetLife is set to pay $210 per square foot for the 517,293-square-foot building at 125 S. Wacker Drive in downtown Chicago, which Tishman Speyer bought in January 2005 for $44 million, according to a report Wednesday by Chicago Real Estate Daily.

Since acquiring the property, Tishman Speyer has invested $33 million in renovations, according to the...
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