8-Mar-22 – Despite plummeted demand for offices in downtown Chicago, 35 West Wacker, better known as the Leo Burnett Building, has been sold.

Opal Holdings, a real estate investment firm based in New York, purchased the 50-story, 1.1 million square foot office tower on February 2, reportedly for $420 million.

The closing of the sale was confirmed on Monday when The John Buck Company announced it has been hired to manage the building. The Chicago company developed the tower in 1989 and managed it through 2008.

JBC says it will focus on advancements in technology and tenant service programs.

“We are excited to bring our previous knowledge of this iconic Chicago building to renew old relationships and again best serve the very prestigious 35 West Wacker tenant roster,” said Charles Wagener (left), JBC principal and president of Buck Management Group.

When built in 1989, 35 West Wacker was the 12th tallest structure in Chicago. At 635 feet, it is now Chicago’s 44th tallest building. Tenants include the advertising agency, Leo Burnett Worldwide; the law firm of Winston & Strawn; a restaurant, Catch 35; and Starcom Worldwide, a media agency.

The previous owner was USB Realty Investors, which purchased the building in 2011.

On November 2, 2014, professional daredevil Nik Wallenda crossed from the top of Marina City’s west tower, across the Chicago River, to the roof of Leo Burnett Building by high-wire. Photo by Lee Hogan

The event was broadcast live on Discovery Channel to 220 countries, and an estimated 50-65,000 people saw the event live.