Five Mile Capital Partners is selling AMA Plaza, a 1.14 million-square-foot, Class A, trophy office and adjacent 902-stall parking garage located on the Chicago River in the River North area of Chicago. The Stamford, Connecticut-based company has enlisted HFF to market the property.
Home to the American Medical Association, the 95-percent-leased AMA Plaza boasts a roster of internationally-recognizable, high-quality tenants with a weighted average lease term of nearly 9.5 years. The 52-story building is one of Chicago’s premier office towers.
AMA Plaza is a LEED Gold Certified multi-tenant office building situated on top of a separately owned 316-room, five-star luxury Langham Hotel. Through a recent $73.7 million base-building capital expenditure plan, the property has been completely redeveloped with all new mechanical systems, elevators, HVAC, restrooms, corridors and a “Green Roof.” The property is virtually a new building within a glass and steel façade. Located on a 1.6-acre site in downtown Chicago on the banks of the Chicago River, AMA Plaza is a designated Chicago Landmark and listed on the National Register of Historic Places. The building is the last and largest American building designed by the renowned architect Ludwig Mies van der Rohe.
The HFF team representing Five Mile Capital is being led by senior managing directors Jaime Fink, Jeff Bramson and Michael Kavanau, executive managing directors John Pelusi and Gerard Sansosti and managing director Mark Katz.
“AMA Plaza represents a worldwide generational opportunity to acquire an irreplaceable architectural icon,” Fink said. “The property transcends the local market and takes its place among the best trophy office towers in the world.”