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One of the most eye-catching towers on the Chicago skyline has sold for around $625 million, according to reports.
The price paid for the Hyatt Centre has not been confirmed by its new owner, the Irvine Company, but the Wall Street Journal has revealed the figure it believes the firm is to outlay on the 48-storey site in the West Loop area of Chicago’s central business district.
Having been built back in 2005, the centre incorporates a restaurant, conference centres and a fitness area but its primary use is as office space for a variety of high-profile companies operating out of Illinois.
Hyatt Hotels has its world head-quarters at the site and dozens of its staff operate alongside those from IBM, RBS and Goldman Sachs, who all have regional bases in office space at the Hyatt Centre.
Bosses at the Irvine Company are very pleased with their acquisition and have noted the environmental performance of the modern office tower in downtown Chicago, which boasts a Platinum LEED sustainability rating.
“The project is an iconic and elegantly designed Class A+ building in one of the most vibrant cities in the country,” reckoned Doug Holte, president of Irvine Company Office Properties.
“We are committed to upholding the high standard for operational excellence that has made this property a sought-after home to some of the most respected businesses in the US.”
The acquisition of the Hyatt Centre is the first by the Irvine Company in the Chicago area but the real estate operator owns millions of square feet of office space to rent in the cities of San Diego and Los Angeles, California.
Elsewhere in the same state, a mobile application development company called Mutual Mobile recently revealed its plan to open a new office in San Francisco, in an effort by the Austin-based business to establish itself on America’s west coast.
