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Howard Hughes Lands Major Financing, Major Tenant at 110 North Wacker

It’s been a good week for the Howard Hughes Corporation on the 110 N. Wacker Dr. office project, which it’s developing in partnership with Riverside Investors & Development. Earlier this week, it closed on a $494.5-million construction loan for the 53-story tower, and simultaneously secured $170 million in preferred equity on the project.

The partnership also signed Lincoln International as the second tenant for 110 N. Wacker. The investment bank will relocate into about 60,000 square feet at the 1.4-million-square-foot property when it opens in 2020. Another financial institution, Bank of America, signed on as the anchor tenant with a 500,000-square-foot commitment in January.

“110 North Wacker Drive continues to solidify itself as the most desirable downtown office development site in Chicago,” said Howard Hughes president Grant Herlitz. “The signing of renowned investment bank Lincoln International is further evidence of the high interest we continue to see.”

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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 13-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 15-20 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 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).

  • ◦Financing
  • ◦Development
  • ◦Lease
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