City slicker

摘要

At a time when many developers are fleeing the stagnant office market for more profitable sectors like multifamily residential and retail, Chicago developer John Buck continues to churn out winning speculative office buildings. Buck's latest success story, the 1.46 million-sf, 53-story 111 S. Wacker Dr. tower in Chicago's West Loop, which opened last May, is more than 90% occupied and is commanding premium lease rates in a local office market that's overripe at best. It's practically deja vu for the developer, who overcame similar odds in 2001 in selling out his last major project: the 50-story UBS Tower at One N. Wacker Dr.