Inside these posts: 353 N. Clark

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Chicago deal shows Tishman Speyer going back to basics

Tishman Speyer Properties’ purchase of a new Chicago office tower is the latest sign that the firm is going back to the basics as it emerges from one of the most devastating commercial real-estate cycles in decades.

Its purchase of 353 N. Clark St. for $385 million, an estimated $55 million less than it cost to build, also exposes the fault lines as well as the opportunities for investors and owners as the market recovers. Get the full story »

Mesirow Financial sells River North tower for loss

From Globe St. | Tishman Speyer has completed its purchase of a 1.2 million-square-foot office tower at 353 N. Clark for $385 million, about $35 million less than it cost seller Mesirow Financial to build the tower completed in October 2009. Mesirow had owed roughly $374 million from construction loans that were coming due. Get the full story>>