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Stock impact report

Illinois housing agency signs 72K sf lease at Michigan Plaza [Yahoo! Finance]

Omnicom Group Inc. (OMC) 
Last omnicom group inc. earnings: 4/28 06:25 am Check Earnings Report
US:NYSE Investor Relations: investor.omnicomgroup.com
Company Research Source: Yahoo! Finance
The Illinois Housing Development Authority signed a 72,645-square-foot lease at 225 North Michigan Avenue , according to Transwestern, which handles leasing for the property, as was first reported by Crain's. The agency will move later this year from its current offices at 111 East Wacker Drive in Illinois Center , where its roughly 67,000-square-foot lease expires in October. IHDA's departure comes more than a year after the owner of Illinois Center, New York-based AmTrust RE , was hit with a foreclosure lawsuit tied to a $260 million loan secured by the two-building complex. Properties entangled in foreclosure often face limitations on funding tenant improvements or other leasing incentives, as lenders and owners sort out the property's future, according to the publication. That uncertainty opened the door for Buffalo-based Aegis Asset Management, which owns Michigan Plaza, a two-tower complex at the northeast corner of Michigan Avenue and Lake Street. Transwestern's Mark But Show less Read more
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