March 24, 2016
Chicago developer John O’Donnell has retained Eastdil Secured to sell a 1.2-million-square-foot tower at 150 N. Riverside Plaza in Chicago’s Loop, which is still under construction. The building won’t be completed until January, yet real estate experts say it could sell for $900 million.
The asset is 80% pre-leased, with tenants including Hyatt Hotels and Navigant Consulting. Though O’Donnell said his first priority is to replace the tower’s construction debt with long-term financing, he’s also considering selling part or all of the tower.
Stephen Livaditis is leading the Eastdil Secured team in representing Riverside Investment & Development, the company developing the property.