Business Services Industry
Late News; Optimistic outlook pumps up earnings.
Crain's Chicago Business, April, 2002
MONROE ST. TOWER ON THE SALE BLOCK In what promises to be one of the biggest downtown real estate deals this year, an investment fund controlled by New York-based Tishman Speyer Properties L.P. is seeking bidders for the 1.6-million-square-foot office building at 55 E. Monroe St., people familiar with the matter say.
The 48-story building, which is 97%-occupied, could fetch as much as $300 million, industry observers predict. Among the building's largest tenants are Chicago-based engineering firm Sargent & Lundy LLC, law firm Seyfarth Shaw and investment management firm Duff & Phelps LLC. The building was a longtime holding of Chicago's billionaire Crown family, which contributed it to the fund in 1998 in exchange for an interest in the venture. Tishman Speyer...
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