The Taipei Economic and Cultural Office (TECO) in Chicago has completed the purchase of 20,315 square feet within 55 West Wacker in Chicago, IL from MB Real Estate for an undisclosed price. TECO-Chicago is overseen by the Taipei Economic and Cultural Representative Office in the US and serves Taiwanese citizens in the Midwestern US and represents the interests of the Republic of China, also known as Taiwan, according to a GlobeSt.com report. Building ownership was represented by Kevin Purcell, the chief operating officer and executive vice president; Mark Buth, executive vice president and managing director of leasing; and Walter Hennig, senior vice president for asset management of MB Real Estate. TECO-Chicago was represented by Lisa Davidson and James Stein of Studley.
Built in 1968 and designed by C.F. Murphy Associates, the 15-story, 209,000 RSF class B office property at 55 West Wacker features 14,250-square-foot floor plates which users can lease or own. TECO-Chicago purchased the entirety of the 13th floor and a portion of the 12th floor to be used as its new Midwestern location, which will allow the company to relocate employees from its current offices within Two Prudential Plaza at 180 N. Stetson in Chicago this spring.
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