Howard Hughes Corp. builds new office building in Chicago

Summerlin developer Howard Hughes Corp. broke ground on Chicago’s tallest new office building in decades.

Dallas-based Howard Hughes and Chicago-based Riverside Investment & Development held a ceremonial groundbreaking Thursday for 110 North Wacker, a 1.4 million-square-foot, 55-story office building in downtown Chicago, the developers announced Friday.

More than 30 percent of the tower is pre-leased to Bank of America.

Chicago Mayor Rahm Emanuel said in the announcement that the project will create the city’s tallest new office building in the last three decades.

The news release did not give the project’s cost but said it is financed in part by a $495 million construction loan from Bank of America and JPMorgan Chase. The project is expected to be finished in the fourth quarter of 2020.

Summerlin, spanning 22,500 acres, is Las Vegas’ largest master-planned community.

Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.