Hines buys another Chicago high-rise

Hines U.S. Office Value Added Fund II L.P. (HVAF II) has acquired a 23-story, 600,000-square-foot office building in downtown Chicago for an undisclosed price.

The property, 101 North Wacker, is located in the city’s West Loop submarket. Completed in 1980 and renovated in 1990, the property was 83 percent leased at the time of sale to tenants that included TTX Co., Hartmarx Corp., YMCA and The Segal Co.

According to a press statement, HVAF II plans to renovate the property in an attempt to “enhance the building’s leasing profile.”