401 North Michigan Avenue | Chicago, IL

737,308 RSF | 35 Stories

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Zeller acquired 401 North Michigan in 2001, recognizing the untapped potential at the intersection of Michigan Avenue and the Chicago River. Over 16 years, Zeller transformed the 737,000 RSF Class-A tower into a premier business destination and cultural landmark.

Strategic Enhancements:

• Renovated 19th-floor conference center with 360° views
• Activated Pioneer Court with public and revenue-generating events
• Partnered with Shoreline Sightseeing to launch one of the world’s top-rated architecture tours
• Delivered a global flagshipApple Store through redevelopment of the plaza and lower levels

Additional Improvements:

• Added a fitness center, valet upgrades, new café, and amenity spaces
• Full lobby renovation with green wall and modern seating
• Outdoor work park and curated tenant engagement program

Impact & Recognition:

• Increased occupancy from 83% to 92% at sale
• $370M sale to Walton Street Capital in 2018
• $41M in equity reinvested
• LEED Platinum, Fitwel 3-Star, WELL HSR, Energy Star, BOMA 360
• 2020 BOMA TOBY Award, International Winner

401 North Michigan is a testament to Zeller’s ability to reimagine underutilized assets, execute complex redevelopment, and deliver long-term value in iconic urban locations.