Chicago’s AMA Plaza Looking for a New Owner
- Sep 18, 2015
A historic 52-story office building in downtown Chicago is now on the market.
An affiliate of Five Mile Capital Partners enlisted the help of HFF to market and sell AMA Plaza—a 1.14 million-square-foot, Class A, trophy office tower located at 330 N. Wabash Ave. on the banks of the Chicago River. An HFF team led by Senior Managing Directors Jaime Fink, Jeff Bramson, and Michael Kavanau, Executive Managing Directors John Pelusi and Gerard Sansosti, and Managing Director Mark Katz, are representing the Stamford, Conn.-based seller.
“AMA Plaza represents a worldwide generational opportunity to acquire an irreplaceable architectural icon,” said Fink. “The property transcends the local market and takes its place among the best trophy office towers in the world.”
Formerly IBM Plaza, the LEED Gold certified tower is currently the home of the American Medical Association and is 95 percent leased. The 52-story building is situated on top of a separately owned, 316-key luxury Langham Hotel, also awarded LEED Gold certification by the USGBC. A designated Chicago Landmark, AMA Plaza is the last and largest American building designed by Ludwig Mies van der Rohe and is also listed on the National Register of Historic Places.
AMA Plaza recently underwent an extensive redevelopment project, following a $73.7 million base-building capital expenditure plan. The tower now features new mechanical systems, elevators, HVAC, and restrooms, and a new green roof.
Image courtesy of AMA Plaza