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Chicago & Midwest  + Office  |  January 2, 2019
Paul Bubny
By: Paul Bubny

CIM, Golub Acquire Mag Mile Office Tower

CIM Group and Golub & Company have acquired 444 N. Michigan Ave. along the Magnificent Mile. The property is across the street from another Golub/CIM joint venture, the Tribune Tower redevelopment.

Terms weren’t disclosed. Crain’s Chicago Business reported in November that the 36-story, 517,000-square-foot office tower was under contract for $138 million by seller GLL Real Estate, which paid $114.6 million for it in 2006.

Built in 1976, 444 N. Michigan is occupied by tenants across a diverse set of industries, including technology, media, healthcare, law, real estate, and professional services.

For Los Angeles-based CIM, it’s the latest in a series of Chicago acquisitions that also includes Block 37, the five-level retail center in the Loop; Marquee at Block 37, the 690-unit apartment tower on top of it; the 425 Financial Place office complex; the 1326 S. State apartment tower currently under construction; and the 725 S. Wells Data Center.


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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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