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Struggling IBM tower: 'Please buy our space'; Owner converting part of Mies landmark to office condominiums.

Publication: Crain's Chicago Business
Publication Date: 06-JUN-05
Format: Online
Delivery: Immediate Online Access
Full Article Title: Struggling IBM tower: 'Please buy our space'; Owner converting part of Mies landmark to office condominiums.(News)

Article Excerpt
Byline: ALBY GALLUN

IBM Plaza, a highlight of architectural boat cruises on the Chicago River, is dipping a toe into the office condo market.

It's a strategy that is starting to catch on in Chicago: selling office space rather than leasing it. Several small downtown landlords have converted their office space into condominiums, selling them to non-profit groups and professional services firms tempted by the benefits of ownership (Crain's, Nov. 1).

Yet the Mies van...

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