The John Buck Company finalized its acquisition of CNA‘s Chicago-based global headquarters at 333 S. Wabash Ave., for $108 million.
The 44-story, 1.1 million-square-foot building at 333 S. Wabash, known as “Big Red,” has been a distinguished member of Chicago’s skyline since it opened in 1972.
CNA will lease its current offices at 333 S. Wabash while it awaits JBC’s completion of its new Class A office tower at 151 N. Franklin, which is expected to be delivered in Summer 2018.
The new 800,000-square-foot CNA Center will rise 35 stories, with each office floor featuring column-free lease spans with 9’6″ floor-to-ceiling glass windows and columnless glass corners. Construction on the project at 151 N. Franklin began on February 29 through a partnership between Lend Lease and JBC.
Bill Rolander, Principal at JBC, served as primary representation for The John Buck Company. Greg Gerber, executive vice president at Savills Studley, advisor to CNA, aided in the finalization of the deal.