Crain's: Waterview Tower on the market

Waterview Tower, 111 W Wacker Dr, Chicago“Markets come back. Everything comes back.”

Peter Greene, first vice president of CB Richard Ellis, on the appeal that the Waterview Tower will have to investors in the lead-up to a market recovery. According to Crain’s, CB Richard Ellis has been hired to find a buyer for the Loop high-rise, which is little more than an unfinished, 26-story parking garage at the moment. An affiliate of developer Teng & Associates faces a $20-million loan foreclosure suit and $85 million in construction liens filed against the project.

In the meantime, Ald. Brendan Reilly and the city’s Buildings Department are pushing to have a high-rise crane removed from the Waterview site, out of fear that an unused crane could pose a safety hazard, the Sun-Times reports.

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