JLL has begun the process of marketing 303 East Wacker, part of the Illinois Center complex, an 861,000-square-foot riverfront office tower in Chicago’s popular East Loop submarket. International director Bruce Miller and managing director Nooshin Felsenthal are leading the JLL team handling the assignment.
“This is an excellent opportunity for an investor to acquire an exceptionally maintained, institutional quality building which has both solid in-place cash flow and the potential to add future value through creative repositioning and lease up of contiguous vacant space,” said Miller.
The property is currently 69 percent leased and has a balanced rent roll dominated by full or multi-floor tenants in the media, logistics and technology space.
“303 East Wacker is firmly planted in the path of growth within the East Loop and is well positioned to capture a dominant share of the leasing momentum in this dynamic submarket,” said Felsenthal.
Built in 1980 and designed by Fujikawa Johnson & Associates, the 30-story tower has two penthouse levels and expansive, floor-to-ceiling window lines offering abundant natural light and unobstructed 360 degree views of the Chicago River, Lake Michigan and the city skyline. The building offers 30,000-square-foot floorplates and eleven and a half foot slab-to-slab ceiling heights. The building was sold to Franklin Street Properties in 2007 and is managed by Hines.
