The owner of a 40-story office tower that sits atop Chicago’s Ogilvie Transportation Center has extended its loan by up to three years and added $16 million to its balance, a rarity nationally as landlords struggle to hang on to office properties amid sluggish demand, falling values and financing challenges.
Owner of Chicago office building lands rare loan extension
KBS-sponsored trust extends debt maturity date on Accenture Tower until late 2026
By Ryan Ori
CoStar News
December 27, 2024 | 9:45 P.M.
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IN THIS ARTICLE
- Properties
- Accenture Tower
500 Madison St, Chicago, IL
- Companies
- KBS
Real Estate