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Chicago office tower sale heats up property market

Posted on 04 August 2010

From WSJ: The sale of the Chicago office tower at 300 North LaSalle St. for a record price of $655 million has left a number of real estate professionals rubbing their eyes.
Like most cities, Chicago is suffering from a weak office-leasing market. The city’s vacancy rate at the end of the second quarter was 18.5%, up from 17.4% during the same period last year, and effective rents have been on a downward spiral for over a year, according to Reis Inc……………………………………….Full Article: Source

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