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Walton Street venture acquires Chicago office complex for $360M

A venture of Walton Street Capital LLC acquired a 35-story office tower at 401 North Michigan Ave. in Chicago from Zeller Realty Group for $360 million, the Chicago Tribune reported Oct. 17, citing Cook County real estate records.

Walton Street's plans to purchase the tower, which will house Apple's 20,000-square-foot new flagship store, were first reported in May. The deal was funded through a $211.4 million loan from Wells Fargo Bank.

Zeller is anticipated to continue managing and leasing the 760,000-square-foot office building, which is more than 90% occupied.