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Chicago & Midwest  + Office  |  May 15, 2018
Paul Bubny
By: Paul Bubny

Wacker Drive Tower Lands $665M Construction Financing

The 53-story 110 N. Wacker Dr. office development from the Howard Hughes Corporation and Riverside Investment and Development has landed a $495-million construction loan from Bank of America and JPMorgan Chase, and a $170-million equity investment by USAA Real Estate. The financing was arranged by Hamilton Realty Finance, along with Howard Hughes and Riverside.

“The closing of this financing is another important milestone in our development process, and with the help of our trusted financial partners, we are one step closer to delivering the next evolution of premier office space to Chicago,” said Howard Hughes president Grant Herlitz.

At Riverside, CEO John O’Donnell said his firm was “very fortunate to be working with The Howard Hughes Corporation, and collaborating again with Goettsch Partners and Clark Construction on this project,” following the team’s collaboration on 150 N. Riverside. 110 N. Wacker is slated for completion by the end of 2020.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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  • ◦Development