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Chicago Office Property AMA Plaza Now On the Market

Friday, October 30, 2015

Update: This property is no longer on the market. For details about the sale and financing arranged by HFF, please click here.

HFF is pleased to present the historic AMA Plaza, one of Chicago's most iconic landmark office properties.

AMA Plaza Chicago Completed in 1972, the 52-story, 1.14 million-square-foot office tower is situated on top of a separately-owned 316-room, five-star, luxury Langham Hotel. It is the last and largest American building designed by the renowned architect Ludwig Mies van der Rohe. A designated Chicago Landmark, it is listed on the National Register of Historic Places.

AMA Plaza is located on a 1.6-acre site in downtown Chicago on the banks of the River North, the city's most dynamic submarket. The 330 North Wabash address is a prime location, considering that buildings along the Chicago River outperform other CBD buildings.

The LEED Gold Certified multi-tenant office building is enhanced by a multi-million dollar redevelopment program spanning 2012-2014. Tenants of AMA Plaza enjoy large, column-free floor plates, robust electrical systems, dense floor loading and state-of-the-art mechanical, security and life safety systems.

Office Property Investment Benefits

  • Long-Term Durable Cash Flow: As of January 1, 2016, AMA Plaza will have a weighted average lease term of 9.3 years. The office building's tenant roster provides exceptional income stability, with minimal rollover risk, due to its balanced lease expiration profile. The average annual lease rollover through the next seven years is 3.5 percent per year, providing a secure and protected income stream.
  • Riverfront location: Buildings located along the Chicago River outperform other CBD buildings due to the unique views. Rent differentiation is minimal between AMA Plaza's highest and lowest floors because of the office property's prominence along the river.
  • Comprehensive Renovation: Since 2007, ownership has invested $73.7 million in base-building renovations (excluding tenant improvements), including full mechanical upgrade, replacement of boilers, new elevators and cabs, fire life safety systems, new building automation system, and complete retrofit of existing air handlers.
  • LEED Certification: AMA Plaza is a LEED EBO&M certified Gold building. It has won numerous awards for efficiency and sustainability, including multiple BOMA awards, Energy Star labels and more.
  • Coveted Tenant Amenities: Building amenities make AMA Plaza a desirable location for business. Completed in 2012, the new 5,233-square-foot fitness center includes state-of-the-art equipment and locker rooms. A 4,280 rentable-square-feet Cafe 330 features a variety of international dining options for the building's tenants.

If you are looking for office properties in Chicago and want more information about the AMA Plaza, please contact our HFF Chicago office.

 






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