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| The 18-story North and 26-story South Tower of the 478,920-SF Wrigley Building, at 400 and 410 North MIchigan Avenue, Chicago, IL |
CHICAGO, IL –– Holliday Fenoglio Fowler, L.P. (HFF)
announces $150 million in financing for The Wrigley Building, an iconic
Class A office and retail property totaling 478,920 square feet in Chicago,
Illinois.
The HFF team worked on behalf of the borrower, Mansueto Properties
LLC, to secure the 30-year, fixed-rate acquisition financing through a major
life insurance company.
Originally built in 1921 and 1924, The Wrigley Building is one of
Chicago’s most iconic properties and is listed on the National Register of Historic
Places.
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| Joe Mansueto |
The two-tower property, which has connecting
walkways on the third and 14th floors, was completely renovated
from 2012 to 2014 to create modern office and retail space, to further enhance
the historic façade and provide tenants with best-in-class amenities, including
a fitness center, tenant lounge and conference center.
The
18-story North and 26-story South Tower are 90 percent leased overall to
tenants including, American Medical Association, Leo Burnett, ABA, Nuveen,
Walgreens and Perkins + Will.
Located
at 400-410 North Michigan Avenue, The Wrigley Building sits at the northwest
corner of North Michigan Avenue and the Chicago River.
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| Stephen Skok |
“We are committed to preserving the legacy of this building and
ensuring that it remains a vital part of Chicago’s growth well into the
future,” said Joe Mansueto of Mansueto Properties LLC.
The HFF debt placement team representing the borrower consisted of
managing director Stephen Skok.
“The Wrigley Building is an iconic symbol of Chicago, which will
serve as a long-term, generational real estate investment for Mansueto
Properties,” Skok said.
For more information, please contact:
KRISTEN MURPHY
HFF
Director, Public Relations
(617) 338-0990
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