Business · Companies · 8 hrs ago
Amancio Ortega completes $550 million purchase of Chicago office tower
Amancio Ortega’s Pontegadea has bought a Chicago office tower for $550 million.
The 50-storey One North Wacker building stands in the Loop, Chicago’s financial district, and is 199 metres tall.
Its tenants include UBS, PwC and Fitch Ratings, alongside law firm Barnes & Thornburg.
Pontegadea had been negotiating to buy the tower from property businessman Donald Bren, with talks reported in June.
The purchase adds to Pontegadea’s property portfolio, which is valued at more than $21 billion.
Ortega has bought other properties in Chicago and across the United States, including offices, shops, rental homes and warehouses.
The deal deepens Ortega’s investment in US real estate, but no further steps related to the purchase were given.
Amancio Ortega has completed the purchase of the One North Wacker office tower in Chicago for $550 million.
The 50-storey building is in Chicago’s Loop financial district.
Ortega bought it through Pontegadea, his investment vehicle, from real estate businessman Donald Bren.
The tower is 199 metres tall and has tenants including PwC, Barnes & Thornburg and Fitch Ratings.
The acquisition adds to Pontegadea’s property holdings in Chicago and across the United States.
- Who
- Amancio Ortega, through his investment vehicle Pontegadea, bought the tower from real estate businessman Donald Bren.
- What
- He completed the purchase of the One North Wacker office tower for $550 million.
- When
- The deal closed by October 15, 2026. Negotiations were reported in June.
- Where
- One North Wacker, in Chicago’s Loop financial district, United States.
- Why
- Not stated
This story does not have two clearly opposing sides.
It became known that Pontegadea was negotiating to buy the tower from Donald Bren.
Cinco Días reported that Ortega had completed the purchase for $550 million.
- Purchase price
- $550 million
- Building
- One North Wacker
- Location
- Chicago’s Loop financial district
- Height
- 199 metres
- Floors
- 50
- Tenants
- PwC, Barnes & Thornburg and Fitch Ratings