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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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