Wednesday, November 03, 2010

Chicago Office Building Sells For Less Than Construction Cost: First Time Since 1990's

Crain's Chicago Business reports:
For the first time since the 1990s, a new downtown office building is likely to be sold for less than it cost to build, as Mesirow Financial reaches a painful deal to sell its River North headquarters for about $380 million.
You've got to wonder what's the real demand for square footage in downtown Chicago.