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New York firm buys distressed Wacker Drive tower at massive discount

Summary by WirePoints Illinois Financial News
A New York real estate investor known for buying distressed malls has purchased one of Chicago's tallest skyscrapers, 311 West Wacker,  for about 85% less than it traded for more than a decade ago, one of the biggest losses of value ever for a downtown office building.

Bias Distribution

  • 50% of the sources are Center, 50% of the sources lean Right
50% Right
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Crain's Chicago Business broke the news in Chicago, United States on Thursday, June 26, 2025.
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