Northwestern Memorial pays $80 million for Streeterville office tower

    Continuing to demonstrate a strong appetite for Streeterville real estate, Northwestern Memorial HealthCare has paid $79.5 million for a 28-story office tower in the neighborhood where it already is the largest tenant.

    In two separate transactions on March 31, the hospital system bought the 541,637-square-foot former Time-Life Building at 541 N. Fairbanks Court, according to Cook County records.

    The deal means the Chicago Park District, which had owned the 110,000 square feet it occupies on floors 3 through 7, will be moving out of its headquarters by 2018.

    Read more in Crain’s Chicago Business.

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