444 North Michigan Avenue
Building Summary
 
   
 
 
 
 
 
 
 
444 North Michigan Avenue Summary
444 North Michigan Avenue, purchased by Property Group Partners in 1999, is in the center of Chicago’s business, entertainment and shopping districts. Overlooking Lake Michigan, the Chicago River and the Magnificent Mile, it offers unique access to the finest hotels, restaurants, shops and business services. Its height and position on Michigan Avenue give 444 North Michigan instant recognition and corporate visibility.

Building Features
Offset core design and a 5-foot planning module accommodates flexible layouts. The spacious lobby is an elegant mix of brass, granite, marble and mahogany finishes. Wood-paneled, high-speed elevators connect to common areas on each floor. HVAC, communications and life safety systems were upgraded. Floor-to-ceiling windows with views of outstanding landmarks, including the Tribune Tower, the Wrigley Building, the Hancock Center and the Magnificent Mile.

Investment
When 444 North Michigan Avenue was acquired, Property Group Partners first upgraded the property, including the installation of a full fitness facility as a tenant amenity. The Property Group then undertook a major marketing program, substantially leasing the repositioned building that was over 20 percent vacant and exposed to another 20 percent to 30 percent of short-term renewal requirements.
 
 
Location
444 North Michigan Avenue
Chicago, Illinois
Building Specifications
503,000 SF
36 Floors
Typical Floor 15,400 SF
Architect
Perkins & Will
Property Group Partners Role
Acquisition
Property Owner
Construction
Repositioned
Property Management
Building Status
Sold in 2002