CIM Group and Golub & Company have acquired 444 N. Michigan, a 36-story, approximately 517,000-square-foot office building with ground floor retail. The building is located directly across the street from another joint venture on Chicago’s Magnificent Mile, the Tribune Tower redevelopment.
The building, built in 1976, is occupied by tenants representing a diverse set of industries including technology, media, healthcare, law, real estate and professional services. The property is surrounded by numerous retail, restaurant, hotel and entertainment options and one block from the river. The building is easily accessed by the city’s many transportation options with multiple adjacent bus stops, within walking distance of the “L” Red Line train at Grand Avenue Station, and near Lake Shore Drive.
The two firms partnered on other properties in Chicago including the 40-story multifamily residential tower 1001 South State Street, Fifteen Fifty on the Park condominiums, 625 North Michigan office building, Tribune Tower West redevelopment and Tribune Tower East development.
CIM’s other Chicago area investments include Block 37, the 275,000-square-foot, five-level retail center in Chicago’s Loop; Marquee at Block 37, the 38-story, 690-unit residential apartment tower on top of Block 37; 425 Financial Place office complex; 1326 S. State apartment tower currently under construction; 1241 and 1647 N. Milwaukee Avenue; Midway Technology Centre and 725 S. Wells Data Center.
