Neighbor agrees to pay about $25 million for Wacker Drive tower

    After previous deals to sell a 23-story office tower on Wacker Drive fell through, its owners have struck a roughly $25-million deal with their next-door neighbor.

    Chicago-based Ameritus Corporate Real Estate Service LLC is under contract to pay about $25 million, or about $103 per square foot, for the tower at 205 W. Wacker Drive, according to sources. The Class B office tower is 33 percent vacant, far above the overall downtown vacancy of 14.9 percent in the first quarter of 2013, according to Los Angeles-based CBRE Inc.

    Ameritus owns 211 W. Wacker Drive and has its offices in the 18-story tower just to the west of the property it’s buying, a 243,000-square-foot tower at Wacker and Wells Street.

    Read more in Crain’s Chicago Business.

    Sign up for BizTimes Daily Alerts

    Stay up-to-date on the people, companies and issues that impact business in Milwaukee and Southeast Wisconsin

    No posts to display