HFF announces $150M financing of the Wrigley Building

Holliday Fenoglio Fowler announced $150 million in financing for The Wrigley Building, an iconic class A office and retail property totaling 478,920 square feet in Chicago.

The HFF team worked on behalf of the borrower, Mansueto Properties LLC, to secure the 30-year, fixed-rate acquisition financing through a major life insurance company.

Originally built in 1921 and 1924, The Wrigley Building is one of Chicago's most iconic properties and is listed on the National Register of Historic Places. The two-tower property, which has connecting walkways on the 3rd and 14th floors, was completely renovated from 2012 to 2014 to create modern office and retail space, to further enhance the historic facade and provide tenants with best-in-class amenities, including a fitness center, tenant lounge and conference center.

The 18-story north and 26-story south tower are 90 percent leased overall to tenants including, American Medical Association, Leo Burnett, ABA, Nuveen, Walgreens and Perkins + Will.

"We are committed to preserving the legacy of this building and ensuring that it remains a vital part of Chicago's growth well into the future," said Joe Mansueto of Mansueto Properties LLC.

The HFF debt placement team representing the borrower consisted of managing director Stephen Skok.

"The Wrigley Building is an iconic symbol of Chicago, which will serve as a long-term, generational real estate investment for Mansueto Properties," Skok said.