From Bloomberg | A source with knowledge of the transaction says the Pritzker family has sold Hyatt Center, a 48-story office tower in downtown Chicago, to closely held Irvine Co for $625 million.
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Irvine Co. nears deal to buy Hyatt Center
The Irvine Co. is close to an agreement to buy the 49-story Hyatt Center in Chicago for about $625 million from the Pritzkers, the storied family whose business empire includes a majority stake in the Hyatt Hotels Corp. chain, according to people familiar with the deal.
The sale of the curved tower at 71 S. Wacker Drive in Chicago, which contains about 1.5 million square feet of office space, could close as early as Friday, people said. The deal could still collapse, but if completed, the building would be one of the largest Windy City properties to trade this year. Get the full story »
Pritzkers put Hyatt Center on market for $575M
The Pritzker family is putting the Hyatt Center, the curvy 71 S. Wacker Dr. skyscraper on the Chicago River, on the market for more than $575 million, according to Crain’s. Major tenants in the 49-story building include the Pritzker family’s Hyatt Hotels Corp., Mayer Brown Rowe & Maw LLP and Goldman Sachs Group Inc. Get the full story>>
